Forestar Group (NYSE:FOR) Sees Strong Trading Volume

Forestar Group Inc. (NYSE:FOR) shares saw strong trading volume on Thursday . 101,232 shares changed hands during mid-day trading, a decline of 53% from the previous session’s volume of 215,066 shares.The stock last traded at $32.45 and had previously closed at $34.16.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Saturday, April 13th.

Forestar Group Trading Down 8.4 %

The company has a 50 day simple moving average of $35.77 and a 200 day simple moving average of $32.16. The company has a market capitalization of $1.56 billion, a PE ratio of 8.63 and a beta of 1.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.01.

Forestar Group (NYSE:FOR) last posted 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 firm had revenue of $305.90 million during the quarter, compared to the consensus estimate of $273.00 million. Forestar Group had a return on equity of 13.85% and a net margin of 12.08%. During the same period in the prior year, the company earned $0.42 EPS. Analysts anticipate that Forestar Group Inc. will post 3.93 earnings per share for the current year.

Institutional Investors Weigh In On Forestar Group

A number of hedge funds have recently modified their holdings of FOR. JPMorgan Chase & Co. raised its holdings in Forestar Group by 2,293.6% in the 4th quarter. JPMorgan Chase & Co. now owns 401,976 shares of the oil and gas exploration company’s stock valued at $6,194,000 after acquiring an additional 385,182 shares during the last quarter. Dimensional Fund Advisors LP grew 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 valued at $67,021,000 after purchasing an additional 200,686 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Forestar Group during the first quarter worth about $35,000. Nuveen Asset Management LLC lifted its stake in shares of Forestar Group by 75.4% in the 4th quarter. Nuveen Asset Management LLC now owns 353,833 shares of the oil and gas exploration company’s stock valued at $11,701,000 after purchasing an additional 152,160 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Forestar Group by 110.9% during the 3rd 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 purchasing an additional 137,270 shares during the period. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.