Forestar Group (NYSE:FOR) Hits New 52-Week Low – What’s Next?

Forestar Group Inc. (NYSE:FOR)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $27.43 and last traded at $27.57, with a volume of 37049 shares traded. The stock had previously closed at $28.36.

Forestar Group Stock Down 1.8 %

The stock has a market capitalization of $1.41 billion, a P/E ratio of 6.94 and a beta of 1.72. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average is $30.57 and its 200-day moving average is $31.14.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.29. The company had revenue of $551.40 million during the quarter, compared to analyst estimates of $503.76 million. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $1.44 earnings per share. As a group, equities research analysts predict that Forestar Group Inc. will post 3.67 earnings per share for the current year.

Insider Buying and Selling

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.58, for a total value of $65,160.00. Following the completion of the sale, the director now owns 5,951 shares of the company’s stock, valued at $193,883.58. This trade represents a 25.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in shares of Forestar Group in the 3rd quarter valued at $32,000. CWM LLC lifted its stake in Forestar Group by 111.6% in the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 559 shares during the period. Family Firm Inc. bought a new position in Forestar Group during the second quarter worth about $34,000. nVerses Capital LLC grew its position in shares of Forestar Group by 500.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after buying an additional 1,000 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Forestar Group in the 2nd quarter valued at about $112,000. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.