StockNews.com Downgrades Forestar Group (NYSE:FOR) to Hold

StockNews.com cut shares of Forestar Group (NYSE:FOR) from a buy rating to a hold rating in a research report released on Friday morning.

Forestar Group Price Performance

Shares of FOR stock opened at $31.50 on Friday. Forestar Group has a 1 year low of $19.26 and a 1 year high of $40.92. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $35.64 and its 200-day moving average is $32.50. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 7.84 and a beta of 1.71.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake in shares of 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 acquiring an additional 977 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in Forestar Group during the 4th quarter valued at about $35,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Forestar Group by 112.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,638 shares of the oil and gas exploration company’s stock valued at $125,000 after purchasing an additional 2,459 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Forestar Group by 88.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock worth $147,000 after buying an additional 2,077 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Forestar Group during the fourth quarter worth approximately $168,000. 35.50% of the stock is currently owned by institutional investors.

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.