Forestar Group Inc (NYSE:FOR – Get Free Report) Director Lisa Jamieson sold 3,000 shares of Forestar Group stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $24.77, for a total transaction of $74,310.00. Following the transaction, the director owned 23,105 shares of the company’s stock, valued at $572,310.85. The trade was a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Forestar Group Stock Performance
Shares of FOR opened at $23.79 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.22 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average price is $26.01 and its 200-day moving average price is $27.35. Forestar Group Inc has a 52 week low of $22.81 and a 52 week high of $32.06. The stock has a market cap of $1.21 billion, a P/E ratio of 8.56 and a beta of 1.43.
Forestar Group (NYSE:FOR – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The oil and gas exploration company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.10). Forestar Group had a return on equity of 7.73% and a net margin of 8.72%. The company had revenue of $580.80 million during the quarter, compared to analysts’ expectations of $603.10 million. During the same quarter in the previous year, the company earned $1.70 EPS. The business’s quarterly revenue was down 13.4% on a year-over-year basis.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Forestar Group by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,805,806 shares of the oil and gas exploration company’s stock worth $68,573,000 after purchasing an additional 30,347 shares during the last quarter. BlackRock Inc. bought a new position in shares of Forestar Group during the second quarter valued at $56,174,000. Heartland Advisors Inc. bought a new position in shares of Forestar Group during the second quarter valued at $15,028,000. Jupiter Topco LLC bought a new position in shares of Forestar Group during the second quarter valued at $8,459,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Forestar Group during the second quarter valued at $7,214,000. Institutional investors own 35.50% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on FOR. Weiss Ratings cut Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Citizens Jmp restated a “market outperform” rating and set a $35.00 price target on shares of Forestar Group in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.50.
Get Our Latest Analysis on Forestar Group
About Forestar Group
Forestar Group Inc (NYSE: FOR) is a residential lot development company that acquires, entitles and develops land for housing construction. The company sells finished and partially developed residential lots to homebuilders, including its majority shareholder, D.R. Horton, as well as other national, regional and local builders.
Forestar’s activities generally include identifying land opportunities, obtaining development approvals, installing infrastructure and managing the construction of roads, utilities and other improvements needed for residential communities.
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