G.F. (Rick) Ringler III Sells 2,000 Shares of Forestar Group Inc. (NYSE:FOR) Stock

by · The Markets Daily

Forestar Group Inc. (NYSE:FOR – Get Free Report) Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.58, for a total value of $65,160.00. Following the completion of the sale, the director now directly owns 5,951 shares of the company’s stock, valued at approximately $193,883.58. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Forestar Group Stock Performance

NYSE FOR opened at $32.32 on Wednesday. The stock has a 50-day simple moving average of $30.80 and a two-hundred day simple moving average of $32.84. The firm has a market capitalization of $1.64 billion, a P/E ratio of 8.04 and a beta of 1.76. Forestar Group Inc. has a fifty-two week low of $22.71 and a fifty-two week high of $40.92. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.50.

Forestar Group (NYSE:FOR – Get Free Report) last released its quarterly earnings data on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). The company had revenue of $318.40 million for the quarter, compared to analysts’ expectations of $370.50 million. Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. On average, equities analysts forecast that Forestar Group Inc. will post 3.72 earnings per share for the current year.

Hedge Funds Weigh In On Forestar Group

A number of institutional investors have recently modified their holdings of FOR. Transcendent Capital Group LLC purchased a new position in shares of Forestar Group in the 1st quarter valued at about $32,000. EverSource Wealth Advisors LLC increased its stake in shares of Forestar Group by 115.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 495 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Forestar Group in the 2nd quarter valued at about $34,000. CWM LLC increased its stake in shares of Forestar Group by 111.6% in the 2nd quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 559 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Forestar Group in the 2nd quarter valued at about $112,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on FOR shares. JPMorgan Chase & Co. lowered their price target on Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. BTIG Research lowered their price target on Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Finally, Citigroup lowered their price target on Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd.

Check Out Our Latest Stock Report on FOR

About Forestar Group

(Get Free Report)

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.

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