Short Interest in Forestar Group Inc (NYSE:FOR) Increases By 35.1%

by · The Markets Daily

Forestar Group Inc (NYSE:FOR – Get Free Report) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 579,871 shares, a growth of 35.1% from the January 29th total of 429,159 shares. Based on an average daily volume of 200,629 shares, the short-interest ratio is currently 2.9 days. Approximately 1.1% of the shares of the stock are sold short. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 200,629 shares, the short-interest ratio is currently 2.9 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in Forestar Group by 32.1% during the first quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company’s stock valued at $4,811,000 after buying an additional 55,266 shares during the period. Millennium Management LLC boosted its stake in shares of Forestar Group by 50.8% during the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock worth $10,342,000 after acquiring an additional 164,753 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Forestar Group by 63.7% during the 1st quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock valued at $102,000 after acquiring an additional 1,879 shares during the period. Jane Street Group LLC purchased a new stake in shares of Forestar Group in the 1st quarter worth $850,000. Finally, Strs Ohio bought a new position in Forestar Group in the 1st quarter worth $74,000. Institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Down 2.6%

Shares of FOR traded down $0.75 on Monday, reaching $27.97. The stock had a trading volume of 127,519 shares, compared to its average volume of 173,863. Forestar Group has a 12-month low of $18.00 and a 12-month high of $30.74. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 8.55 and a beta of 1.42. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50-day simple moving average of $27.03 and a 200-day simple moving average of $26.51.

Forestar Group (NYSE:FOR – Get Free Report) last issued its quarterly earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.09. The company had revenue of $273.00 million during the quarter, compared to analyst estimates of $265.48 million. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. Forestar Group’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. Sell-side analysts predict that Forestar Group will post 3.44 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on FOR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Forestar Group in a research report on Thursday, January 22nd. Citigroup increased their price target on shares of Forestar Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Zacks Research upgraded shares of Forestar Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen lowered shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.75.

Get Our Latest Report on FOR

Forestar Group Company Profile

(Get Free Report)

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.

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