Key Points
- Director Lisa Jamieson sold 3,000 Forestar shares for $74,310 at $24.77 each, reducing her holdings by 11.49% to 23,105 shares.
- Forestar’s latest quarterly results missed expectations: earnings were $1.15 per share versus a $1.25 estimate, and revenue of $580.8 million fell 13.4% year over year.
- Analysts have a consensus “Hold” rating on the stock, with an average price target of $36.50.
Forestar Group Inc (NYSE:FOR - Get Free Report) Director Lisa Jamieson sold 3,000 shares of the business's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $24.77, for a total value of $74,310.00. Following the completion of the sale, the director owned 23,105 shares in the company, valued at $572,310.85. This represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Forestar Group Price Performance
Shares of FOR traded down $0.67 during mid-day trading on Friday, hitting $23.79. 189,695 shares of the stock were exchanged, compared to its average volume of 186,582. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.44 and a current ratio of 2.22. The company has a market cap of $1.21 billion, a PE ratio of 8.56 and a beta of 1.43. Forestar Group Inc has a 52-week low of $22.81 and a 52-week high of $32.06. The firm has a 50-day moving average of $26.01 and a two-hundred day moving average of $27.35.
Forestar Group (NYSE:FOR - Get Free Report) last announced 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). The business had revenue of $580.80 million during the quarter, compared to the consensus estimate of $603.10 million. Forestar Group had a return on equity of 7.73% and a net margin of 8.72%. The company's revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 EPS.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on FOR shares. Citizens Jmp restated a "market outperform" rating and issued a $35.00 target price on shares of Forestar Group in a report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Forestar Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, October 23rd. Two equities research 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, Forestar Group currently has a consensus rating of "Hold" and an average price target of $36.50.
Check Out Our Latest Analysis on FOR
Hedge Funds Weigh In On Forestar Group
Several hedge funds have recently added to or reduced their stakes in FOR. Dimensional Fund Advisors LP lifted its stake in shares of Forestar Group by 1.1% during the 1st 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 acquiring an additional 30,347 shares during the last quarter. BlackRock Inc. bought a new position in shares of Forestar Group in the 2nd quarter worth $56,174,000. Heartland Advisors Inc. purchased a new position in shares of Forestar Group in the 2nd quarter worth approximately $15,028,000. Jupiter Topco LLC purchased a new position in Forestar Group during the 2nd quarter worth $8,459,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Forestar Group by 28.2% during the first quarter. Janus Henderson Group PLC now owns 256,842 shares of the oil and gas exploration company's stock valued at $6,286,000 after acquiring an additional 56,514 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors.
Forestar Group Company Profile
(
Get Free Report)
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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