Forestar Group (FOR) Lifted to “Hold” at ValuEngine

Forestar Group (NYSE:FOR) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Bank of America initiated coverage on shares of Forestar Group in a report on Thursday. They issued a “buy” rating and a $19.00 target price for the company.

Shares of FOR stock traded up $0.28 on Friday, reaching $15.94. The company had a trading volume of 52,053 shares, compared to its average volume of 94,544. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.56 and a quick ratio of 16.56. Forestar Group has a one year low of $12.77 and a one year high of $26.39.

In other news, Director M Ashton Hudson acquired 25,000 shares of the stock in a transaction dated Tuesday, December 18th. The stock was bought at an average price of $13.15 per share, with a total value of $328,750.00. Following the completion of the purchase, the director now directly owns 29,742 shares of the company’s stock, valued at approximately $391,107.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Donald J. Tomnitz acquired 3,915 shares of the stock in a transaction dated Tuesday, November 27th. The stock was purchased at an average cost of $16.15 per share, with a total value of $63,227.25. Following the purchase, the chairman now directly owns 18,706 shares of the company’s stock, valued at $302,101.90. The disclosure for this purchase can be found here. Insiders bought 31,915 shares of company stock valued at $436,277 in the last ninety days. 0.15% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its stake in shares of Forestar Group by 26.9% in the third quarter. GSA Capital Partners LLP now owns 16,041 shares of the oil and gas exploration company’s stock valued at $340,000 after buying an additional 3,400 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Forestar Group in the second quarter valued at approximately $118,000. Dimension Capital Management LLC increased its stake in shares of Forestar Group by 8.7% in the third quarter. Dimension Capital Management LLC now owns 99,409 shares of the oil and gas exploration company’s stock valued at $2,107,000 after buying an additional 7,929 shares during the period. MetLife Investment Advisors LLC acquired a new position in shares of Forestar Group in the third quarter valued at approximately $180,000. Finally, Panagora Asset Management Inc. increased its stake in shares of Forestar Group by 6.8% in the third quarter. Panagora Asset Management Inc. now owns 163,804 shares of the oil and gas exploration company’s stock valued at $3,473,000 after buying an additional 10,477 shares during the period. 22.69% of the stock is owned by institutional investors.

About Forestar Group

Forestar Group Inc operates as a real estate lot development company. It engages in the acquisition, entitlement, and development of infrastructure for single-family residential communities. Forestar Group Inc sells residential lots primarily to homebuilders, as well as sells commercial properties. The company is headquartered in Austin, Texas.

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