Forestar Group (NYSE:FOR) Reaches New 12-Month High at $39.44

Shares of Forestar Group Inc. (NYSE:FOR) hit a new 52-week high during trading on Wednesday . The company traded as high as $39.44 and last traded at $39.42, with a volume of 267228 shares traded. The stock had previously closed at $37.09.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FOR shares. StockNews.com downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Forestar Group from $30.00 to $33.50 and gave the company a “neutral” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Forestar Group Stock Up 1.9 %

The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 10.95 and a beta of 1.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a 50-day moving average of $34.01 and a 200-day moving average of $31.06.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.20. Forestar Group had a return on equity of 13.85% and a net margin of 12.08%. The company had revenue of $305.90 million for the quarter, compared to analyst estimates of $273.00 million. During the same period in the prior year, the firm posted $0.42 EPS. Sell-side analysts predict that Forestar Group Inc. will post 3.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Forestar Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. raised its position in Forestar Group by 1,601.6% during the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 977 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Forestar Group in the 3rd quarter valued at $32,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Forestar Group during the 4th quarter worth $35,000. Envestnet Asset Management Inc. bought a new stake in shares of Forestar Group during the 1st quarter worth $35,000. Finally, Barclays PLC boosted its stake in Forestar Group by 533.7% in the fourth quarter. Barclays PLC now owns 4,892 shares of the oil and gas exploration company’s stock valued at $75,000 after buying an additional 4,120 shares in the last quarter. 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.