Forestar Group (NYSE:FOR) Downgraded by StockNews.com

StockNews.com lowered shares of Forestar Group (NYSE:FOR) from a buy rating to a hold rating in a research report released on Friday.

Forestar Group Price Performance

Shares of FOR opened at $31.33 on Friday. Forestar Group has a twelve month low of $17.89 and a twelve month high of $40.92. The stock’s 50 day moving average is $35.65 and its two-hundred day moving average is $32.45. The firm has a market capitalization of $1.59 billion, a PE ratio of 7.79 and a beta of 1.71. The company has a current ratio of 1.85, a quick ratio of 2.01 and a debt-to-equity ratio of 0.48.

Institutional Investors Weigh In On Forestar Group

Institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its holdings in Forestar Group by 1,601.6% in the 3rd quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 977 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Forestar Group during the 4th quarter worth approximately $35,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Forestar Group by 112.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,638 shares of the oil and gas exploration company’s stock worth $125,000 after acquiring an additional 2,459 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Forestar Group by 88.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock worth $147,000 after acquiring an additional 2,077 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Forestar Group during the 4th quarter worth approximately $168,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

About Forestar Group

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.