Forestar Group (NYSE:FOR) Lowered to Hold at StockNews.com

Forestar Group (NYSE:FOR) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Forestar Group Price Performance

NYSE FOR opened at $31.30 on Friday. The company has a market cap of $1.56 billion, a PE ratio of 7.79 and a beta of 1.71. Forestar Group has a 52 week low of $17.70 and a 52 week high of $40.92. The company has a quick ratio of 2.01, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $35.68 and its two-hundred day simple moving average is $32.34.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.56 by $0.20. The business had revenue of $305.90 million for the quarter, compared to the consensus estimate of $273.00 million. Forestar Group had a net margin of 12.99% and a return on equity of 14.59%. During the same period in the prior year, the firm earned $0.42 earnings per share. Research analysts predict that Forestar Group will post 3.93 earnings per share for the current year.

Institutional Investors Weigh In On Forestar Group

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Forestar Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 2,777,578 shares of the oil and gas exploration company’s stock worth $91,855,000 after buying an additional 15,729 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Forestar Group by 11.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,026,590 shares of the oil and gas exploration company’s stock worth $67,021,000 after buying an additional 200,686 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Forestar Group by 28.6% in the third quarter. Assenagon Asset Management S.A. now owns 276,422 shares of the oil and gas exploration company’s stock worth $7,447,000 after buying an additional 61,404 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Forestar Group by 110.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 261,072 shares of the oil and gas exploration company’s stock worth $7,033,000 after buying an additional 137,270 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Forestar Group by 6.4% in the third quarter. American Century Companies Inc. now owns 251,728 shares of the oil and gas exploration company’s stock worth $6,782,000 after buying an additional 15,137 shares in the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.