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

StockNews.com cut shares of Forestar Group (NYSE:FOR) from a buy rating to a hold rating in a research report report published on Friday morning.

Forestar Group Stock Up 0.0 %

FOR stock opened at $31.32 on Friday. The stock has a market capitalization of $1.58 billion, a P/E ratio of 7.79 and a beta of 1.71. The firm has a 50-day simple moving average of $35.65 and a 200-day simple moving average of $32.33. The company has a quick ratio of 2.01, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. Forestar Group has a 52 week low of $17.89 and a 52 week high of $40.92.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.20. The business had revenue of $305.90 million during the quarter, compared to analysts’ expectations of $273.00 million. Forestar Group had a net margin of 12.99% and a return on equity of 14.59%. During the same quarter in the previous year, the company earned $0.42 earnings per share. Equities analysts forecast that Forestar Group will post 3.87 earnings per share for the current fiscal year.

Institutional Trading of Forestar Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Forestar Group during the third quarter worth about $223,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Forestar Group by 112.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,638 shares of the oil and gas exploration company’s stock worth $125,000 after acquiring an additional 2,459 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Forestar Group by 106.4% during the third quarter. Panagora Asset Management Inc. now owns 73,806 shares of the oil and gas exploration company’s stock worth $1,988,000 after acquiring an additional 38,048 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Forestar Group by 460.4% during the third quarter. Teacher Retirement System of Texas now owns 58,994 shares of the oil and gas exploration company’s stock worth $1,589,000 after acquiring an additional 48,466 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in Forestar Group during the third quarter worth about $269,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Company Profile

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.