Forestar Group (NYSE:FOR) Hits New 12-Month Low After Analyst Downgrade

Forestar Group Inc. (NYSE:FOR) shares hit a new 52-week low during trading on Tuesday after Citigroup lowered their price target on the stock from $43.00 to $39.00. Citigroup currently has a buy rating on the stock. Forestar Group traded as low as $25.20 and last traded at $25.20, with a volume of 517 shares. The stock had previously closed at $25.50.

Hedge Funds Weigh In On Forestar Group

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Forestar Group by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock worth $78,012,000 after purchasing an additional 201,032 shares during the last quarter. Woodson Capital Management LP lifted its holdings in Forestar Group by 12.0% during the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock worth $18,127,000 after acquiring an additional 60,000 shares during the period. American Century Companies Inc. boosted its position in Forestar Group by 22.5% in the second quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company’s stock worth $14,760,000 after purchasing an additional 84,861 shares during the last quarter. State Street Corp grew its stake in Forestar Group by 0.9% in the 3rd quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock valued at $13,838,000 after purchasing an additional 3,922 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Forestar Group by 13.7% during the 3rd quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after purchasing an additional 43,369 shares during the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Stock Down 1.2 %

The company has a market capitalization of $1.28 billion, a P/E ratio of 6.28 and a beta of 1.74. The stock has a 50 day moving average price of $28.70 and a 200 day moving average price of $30.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.61 and a current ratio of 1.61.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.29. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The business had revenue of $551.40 million during the quarter, compared to analyst estimates of $503.76 million. During the same period in the prior year, the company earned $1.44 earnings per share. Forestar Group’s revenue was up .3% compared to the same quarter last year. Equities research analysts forecast that Forestar Group Inc. will post 3.67 earnings per share for the current fiscal year.

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.