Forestar Group Inc. (FOR) Sees Large Volume Increase
Forestar Group Inc. (NYSE:FOR) saw unusually-high trading volume on Thursday . Approximately 1,423,163 shares traded 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 report on Tuesday, July 12th.
The company’s market capitalization is $421.22 million. The company has a 50 day moving average price of $12.10 and a 200-day moving average price of $11.51.
Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Friday, July 29th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.13. The firm earned $46.40 million during the quarter, compared to analyst estimates of $44.80 million. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. On average, equities analysts expect that Forestar Group Inc. will post $0.48 earnings per share for the current year.
An institutional investor recently raised its position in Forestar Group stock. I.G. Investment Management LTD. boosted 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 firm 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 at the end of the most recent reporting period.
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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