Forestar Group Inc. (FOR) Sees Unusually-High Trading Volume
Forestar Group Inc. (NYSE:FOR) saw an uptick in trading volume on Thursday . 1,423,163 shares changed hands during trading, an increase of 367% from the previous session’s volume of 304,752 shares.The stock last traded at $12.09 and had previously closed at $12.25.
Separately, Zacks Investment Research upgraded Forestar Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th.
The company’s market capitalization is $414.70 million. The stock’s 50-day moving average is $12.11 and its 200 day moving average is $11.49.
Forestar Group (NYSE:FOR) last released its earnings results on Friday, July 29th. The oil and gas exploration company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.18. The business earned $46.40 million during the quarter, compared to analyst estimates of $44.80 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Forestar Group Inc. will post $0.48 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Forestar Group stock. I.G. Investment Management LTD. raised its stake in shares of Forestar Group Inc. (NYSE:FOR) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,014 shares of the oil and gas exploration company’s stock after buying an additional 2,881 shares during the period. I.G. Investment Management LTD. owned approximately 0.27% of Forestar Group worth $1,029,000 as of its most recent SEC filing.
Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties.
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