Forestar Group (NYSE:FOR) Sees Strong Trading Volume

Forestar Group Inc. (NYSE:FOR) saw strong trading volume on Thursday . 101,232 shares changed hands during trading, a decline of 53% from the previous session’s volume of 215,066 shares.The stock last traded at $32.45 and had previously closed at $34.16.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Saturday, April 13th.

Forestar Group Stock Up 1.0 %

The firm has a 50 day moving average of $35.75 and a two-hundred day moving average of $32.19. The stock has a market capitalization of $1.58 billion, a PE ratio of 8.61 and a beta of 1.71. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.50.

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.20. Forestar Group had a return on equity of 13.85% and a net margin of 12.08%. The business had revenue of $305.90 million during the quarter, compared to analysts’ expectations of $273.00 million. During the same quarter last year, the business posted $0.42 earnings per share. Equities research analysts anticipate that Forestar Group Inc. will post 3.93 earnings per share for the current year.

Institutional Trading of Forestar Group

Institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. raised its position in shares of Forestar Group by 1,601.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock worth $28,000 after purchasing an additional 977 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Forestar Group in the fourth quarter valued at $35,000. Lazard Asset Management LLC purchased a new stake in shares of Forestar Group in the third quarter valued at $32,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Forestar Group by 88.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock valued at $147,000 after acquiring an additional 2,077 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Forestar Group during the 4th quarter worth about $147,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Company Profile

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.