Forestar Group (NYSE:FOR) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened
by Kim Johansen · The Markets DailyShares of Forestar Group Inc (NYSE:FOR – Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $26.08 and traded as high as $26.48. Forestar Group shares last traded at $25.8060, with a volume of 177,908 shares.
Analyst Ratings Changes
FOR has been the subject of several recent analyst reports. Zacks Research lowered shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. BTIG Research initiated coverage on shares of Forestar Group in a report on Monday, March 30th. They set a “hold” rating for the company. Wall Street Zen lowered shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Citigroup raised their price objective on shares of Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.75.
Read Our Latest Stock Analysis on Forestar Group
Forestar Group Stock Performance
The stock has a market capitalization of $1.33 billion, a P/E ratio of 7.97 and a beta of 1.45. The company’s 50-day moving average is $26.96 and its two-hundred day moving average is $26.09. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.
Forestar Group (NYSE:FOR – Get Free Report) last issued its quarterly earnings data on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. The firm had revenue of $273.00 million for the quarter, compared to the consensus estimate 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 firm posted $0.32 EPS. As a group, sell-side analysts anticipate that Forestar Group Inc will post 3.44 EPS for the current fiscal year.
Institutional Trading of Forestar Group
Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its position in Forestar Group by 1,206.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 917 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Forestar Group in the 4th quarter valued at about $27,000. Comerica Bank lifted its position in Forestar Group by 76.5% in the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 550 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Forestar Group by 201.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock valued at $42,000 after purchasing an additional 1,406 shares during the last quarter. Finally, State of Wyoming bought a new stake in Forestar Group in the 4th quarter valued at about $66,000. 35.50% of the stock is currently owned by institutional investors.
Forestar Group Company Profile
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.