Forestar Group (NYSE:FOR) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Forestar Group Inc (NYSE:FOR)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.36 and traded as high as $27.53. Forestar Group shares last traded at $27.47, with a volume of 171,352 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Zacks Research cut Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings cut Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, BTIG Research assumed coverage on Forestar Group in a report on Monday, March 30th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.67.

Forestar Group Stock Down 0.5%

The firm has a fifty day moving average price of $26.37 and a 200-day moving average price of $26.36. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 8.38 and a beta of 1.41.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.09). Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The business had revenue of $374.30 million for the quarter, compared to analyst estimates of $372.57 million. During the same quarter last year, the business earned $0.62 EPS. Forestar Group’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Forestar Group Inc will post 3.06 EPS for the current year.

Institutional Investors Weigh In On Forestar Group

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Forestar Group by 4.1% in the third quarter. Vanguard Group Inc. now owns 2,769,594 shares of the oil and gas exploration company’s stock valued at $73,644,000 after acquiring an additional 110,286 shares during the last quarter. Integrated Advisors Network LLC acquired a new position in Forestar Group in the third quarter valued at $485,000. American Century Companies Inc. boosted its holdings in Forestar Group by 5.5% in the third quarter. American Century Companies Inc. now owns 702,223 shares of the oil and gas exploration company’s stock valued at $18,672,000 after acquiring an additional 36,626 shares during the last quarter. SG Americas Securities LLC acquired a new position in Forestar Group in the fourth quarter valued at $131,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Forestar Group by 5.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 9,946 shares of the oil and gas exploration company’s stock valued at $245,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Company Profile

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.