Forestar Group (NYSE:FOR) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Forestar Group (NYSE:FOR) traded up $0.10 during trading on Friday, hitting $22.35. The stock had a trading volume of 287,096 shares, compared to its average volume of 297,804. The stock has a market cap of $937.34, a P/E ratio of 19.27 and a beta of 1.92. The company has a current ratio of 26.13, a quick ratio of 26.13 and a debt-to-equity ratio of 0.18. Forestar Group has a 52 week low of $12.30 and a 52 week high of $22.45.
Several institutional investors have recently added to or reduced their stakes in FOR. State of Alaska Department of Revenue raised its holdings in shares of Forestar Group by 79.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,543 shares of the oil and gas exploration company’s stock worth $112,000 after purchasing an additional 2,903 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of Forestar Group by 27.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,780 shares of the oil and gas exploration company’s stock valued at $133,000 after buying an additional 1,670 shares in the last quarter. FNY Partners Fund LP acquired a new stake in shares of Forestar Group in the second quarter valued at about $136,000. Quantbot Technologies LP acquired a new stake in shares of Forestar Group in the second quarter valued at about $149,000. Finally, Stifel Financial Corp grew its stake in shares of Forestar Group by 1.8% in the second quarter. Stifel Financial Corp now owns 10,632 shares of the oil and gas exploration company’s stock valued at $182,000 after buying an additional 183 shares in the last quarter. Institutional investors own 80.21% of the company’s stock.
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Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments. The Real Estate segment secures entitlements and develops infrastructure on its lands, for single-family residential and mixed-use communities. The Mineral resources segment is focused on its owned oil and gas mineral interests through promoting exploration, development and production activities.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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