Forestar Group Inc. (FOR) Sees Unusually-High Trading Volume
Forestar Group Inc. (NYSE:FOR) shares saw unusually-strong trading volume on Tuesday . Approximately 876,910 shares changed hands during trading, an increase of 178% from the previous session’s volume of 315,208 shares.The stock last traded at $12.80 and had previously closed at $12.35.
Separately, Zacks Investment Research lowered Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 3rd.
The company has a 50-day moving average price of $12.13 and a 200 day moving average price of $11.92. The firm’s market capitalization is $439.05 million.
Forestar Group (NYSE:FOR) last released its quarterly earnings results on Friday, July 29th. The oil and gas exploration company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.13. During the same period in the prior year, the business earned $0.06 EPS. The business had revenue of $46.40 million for the quarter, compared to analyst estimates of $44.80 million. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Forestar Group Inc. will post $0.56 EPS for the current year.
An institutional investor recently raised its position in Forestar Group stock. Schwab Charles Investment Management Inc. boosted its position in Forestar Group Inc. (NYSE:FOR) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,351 shares of the oil and gas exploration company’s stock after buying an additional 3,370 shares during the period. Schwab Charles Investment Management Inc. owned 0.31% of Forestar Group worth $1,175,000 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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