Forestar Group Inc. (NYSE:FOR) Short Interest Up 19.0% in January

Forestar Group Inc. (NYSE:FOR) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 539,900 shares, an increase of 19.0% from the January 15th total of 453,700 shares. Approximately 2.8% of the company’s shares are short sold. Based on an average daily trading volume, of 160,200 shares, the days-to-cover ratio is presently 3.4 days.

Hedge Funds Weigh In On Forestar Group

A number of large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Forestar Group by 4.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,831 shares of the oil and gas exploration company’s stock worth $286,000 after purchasing an additional 392 shares in the last quarter. Carolina Wealth Advisors LLC increased its holdings in Forestar Group by 2.3% during the 4th quarter. Carolina Wealth Advisors LLC now owns 20,589 shares of the oil and gas exploration company’s stock worth $534,000 after purchasing an additional 454 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Forestar Group by 3.2% during the 4th quarter. Sterling Capital Management LLC now owns 15,670 shares of the oil and gas exploration company’s stock worth $406,000 after purchasing an additional 479 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Forestar Group by 10.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company’s stock worth $170,000 after purchasing an additional 602 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Forestar Group by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock worth $349,000 after purchasing an additional 765 shares in the last quarter. Institutional investors own 35.50% of the company’s stock.

Forestar Group Trading Up 3.2 %

Shares of FOR traded up $0.73 during trading hours on Friday, reaching $23.21. The stock had a trading volume of 214,143 shares, compared to its average volume of 206,358. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. Forestar Group has a 52 week low of $22.42 and a 52 week high of $40.92. The firm has a 50-day moving average of $25.33 and a 200 day moving average of $28.92. The company has a market cap of $1.18 billion, a P/E ratio of 6.50 and a beta of 1.72.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The business’s quarterly revenue was down 18.1% on a year-over-year basis. On average, sell-side analysts expect that Forestar Group will post 3.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FOR has been the subject of several recent research reports. Citigroup dropped their target price on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th.

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.