Forestar Group (NYSE:FOR) Director Lisa Jamieson Sells 3,000 Shares of Stock

Forestar Group Inc (NYSE:FOR) Director Lisa Jamieson sold 3,000 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $24.77, for a total value of $74,310.00. Following the completion of the sale, the director owned 23,105 shares of the company’s stock, valued at $572,310.85. This trade represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Forestar Group Stock Down 2.8%

Shares of FOR stock traded down $0.67 during trading hours on Friday, hitting $23.79. 189,695 shares of the company were exchanged, compared to its average volume of 156,545. The business has a 50 day moving average of $26.11 and a two-hundred day moving average of $27.36. The company has a current ratio of 2.22, a quick ratio of 1.44 and a debt-to-equity ratio of 0.41. Forestar Group Inc has a 52 week low of $22.81 and a 52 week high of $32.06. The company has a market capitalization of $1.21 billion, a PE ratio of 8.56 and a beta of 1.43.

Forestar Group (NYSE:FOR) last released its earnings results on Thursday, October 29th. The oil and gas exploration company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.10). The firm had revenue of $580.80 million during the quarter, compared to the consensus estimate of $603.10 million. Forestar Group had a net margin of 8.72% and a return on equity of 7.73%. The company’s revenue was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.70 EPS.

Institutional Trading of Forestar Group

Several institutional investors and hedge funds have recently modified their holdings of FOR. Fifth Third Bancorp bought a new position in Forestar Group in the first quarter valued at about $31,000. Allworth Financial LP bought a new position in shares of Forestar Group in the second quarter worth about $33,000. New York State Teachers Retirement System bought a new position in shares of Forestar Group in the first quarter worth about $44,000. Versant Capital Management Inc boosted its stake in shares of Forestar Group by 74.0% in the 2nd quarter. Versant Capital Management Inc now owns 2,727 shares of the oil and gas exploration company’s stock valued at $86,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Forestar Group by 85.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,424 shares of the oil and gas exploration company’s stock valued at $88,000 after purchasing an additional 1,574 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FOR shares. Citizens Jmp reiterated a “market outperform” rating and issued a $35.00 price target on shares of Forestar Group in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.50.

Forestar Group Company Profile

Forestar Group Inc (NYSE: FOR) is a residential lot development company that acquires, entitles and develops land for housing construction. The company sells finished and partially developed residential lots to homebuilders, including its majority shareholder, D.R. Horton, as well as other national, regional and local builders.

Forestar’s activities generally include identifying land opportunities, obtaining development approvals, installing infrastructure and managing the construction of roads, utilities and other improvements needed for residential communities.