Vanguard Group Inc. increased its holdings in Forestar Group Inc (NYSE:FOR – Free Report) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,813,034 shares of the oil and gas exploration company’s stock after purchasing an additional 43,440 shares during the quarter. Vanguard Group Inc. owned 5.53% of Forestar Group worth $69,285,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in Forestar Group by 1,206.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 917 shares during the period. Comerica Bank raised its position in Forestar Group by 76.5% in the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 550 shares during the period. Tower Research Capital LLC TRC raised its position in Forestar Group by 201.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock worth $42,000 after purchasing an additional 1,406 shares during the period. State of Alaska Department of Revenue purchased a new position in Forestar Group in the 3rd quarter worth $72,000. Finally, Strs Ohio purchased a new position in Forestar Group in the 1st quarter worth $74,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently commented on FOR. Weiss Ratings upgraded shares of Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. BTIG Research started coverage on shares of Forestar Group in a research report on Monday, March 30th. They issued a “hold” rating on the stock. Zacks Research cut shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Wall Street Zen cut shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Citigroup boosted their price objective on shares of Forestar Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Forestar Group presently has a consensus rating of “Hold” and a consensus target price of $32.67.
Forestar Group Price Performance
FOR stock opened at $26.42 on Friday. Forestar Group Inc has a 1 year low of $18.50 and a 1 year high of $30.74. The company has a market cap of $1.35 billion, a P/E ratio of 8.05 and a beta of 1.45. The firm has a 50-day moving average of $26.06 and a 200 day moving average of $26.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.36 and a quick ratio of 1.36.
Forestar Group (NYSE:FOR – Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.09). Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The company had revenue of $374.30 million during the quarter, compared to the consensus estimate of $372.57 million. During the same period in the previous year, the company earned $0.62 earnings per share. Forestar Group’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Forestar Group Inc will post 3.06 EPS for the current year.
Forestar Group Profile
Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.
In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.
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