Forestar Group Inc. (NYSE:FOR) Director Sells $65,160.00 in Stock

Forestar Group Inc. (NYSE:FOR) Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.58, for a total value of $65,160.00. Following the sale, the director now directly owns 5,951 shares of the company’s stock, valued at approximately $193,883.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Forestar Group Stock Performance

Forestar Group stock opened at $31.95 on Thursday. The firm has a market capitalization of $1.62 billion, a PE ratio of 7.87 and a beta of 1.76. Forestar Group Inc. has a one year low of $22.71 and a one year high of $40.92. The stock’s 50 day moving average price is $30.81 and its 200 day moving average price is $32.82. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.50.

Forestar Group (NYSE:FOR) last announced its earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.13). Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. The firm had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $370.50 million. As a group, sell-side analysts expect that Forestar Group Inc. will post 3.72 EPS for the current fiscal year.

Institutional Trading of Forestar Group

Large investors have recently modified their holdings of the business. Transcendent Capital Group LLC purchased a new position in Forestar Group in the first quarter valued at about $32,000. CWM LLC raised its position in shares of Forestar Group by 111.6% in the 2nd quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 559 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Forestar Group during the 2nd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC grew its position in shares of Forestar Group by 115.4% during the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 495 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Forestar Group in the second quarter valued at $112,000. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FOR. BTIG Research decreased their target price on Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a report on Friday, July 19th. Citigroup dropped their price objective on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th.

About Forestar Group

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.