Forestar Group Inc. (NYSE:FOR) Short Interest Up 28.0% in December

Forestar Group Inc. (NYSE:FOR) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 404,000 shares, an increase of 28.0% from the December 15th total of 315,700 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average trading volume of 126,200 shares, the short-interest ratio is presently 3.2 days.

Analyst Ratings Changes

Separately, Citigroup decreased their target price on Forestar Group from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th.

Forestar Group Trading Down 1.7 %

Shares of NYSE:FOR traded down $0.46 during trading on Friday, hitting $26.80. The company had a trading volume of 161,634 shares, compared to its average volume of 121,565. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 6.68 and a beta of 1.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.61. The company has a fifty day simple moving average of $27.68 and a two-hundred day simple moving average of $30.08. Forestar Group has a one year low of $24.81 and a one year high of $40.92.

Forestar Group (NYSE:FOR) last announced its earnings results 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 net margin of 13.48% and a return on equity of 13.59%. The business had revenue of $551.40 million for the quarter, compared to the consensus estimate of $503.76 million. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities analysts forecast that Forestar Group will post 3.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC bought a new stake in Forestar Group during the 2nd quarter valued at $6,592,000. Dimensional Fund Advisors LP raised its holdings in shares of Forestar Group by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock valued at $78,012,000 after acquiring an additional 201,032 shares in the last quarter. American Century Companies Inc. lifted its stake 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 acquiring an additional 84,861 shares during the period. Woodson Capital Management LP lifted its stake in Forestar Group by 12.0% in 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. Finally, Moody Aldrich Partners LLC grew its holdings in Forestar Group by 27.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 216,354 shares of the oil and gas exploration company’s stock worth $7,003,000 after acquiring an additional 46,250 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors.

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.