Integrated Advisors Network LLC Invests $485,000 in Forestar Group Inc $FOR

Integrated Advisors Network LLC bought a new stake in Forestar Group Inc (NYSE:FOR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 18,226 shares of the oil and gas exploration company’s stock, valued at approximately $485,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FOR. Allworth Financial LP boosted its position in Forestar Group by 3,273.8% during the second quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 1,375 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings 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 valued at $42,000 after acquiring an additional 1,406 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Forestar Group in the 3rd quarter worth approximately $72,000. Strs Ohio purchased a new position in Forestar Group in the 1st quarter worth approximately $74,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Forestar Group by 1,519.0% during the 3rd quarter. Bessemer Group Inc. now owns 3,740 shares of the oil and gas exploration company’s stock worth $99,000 after purchasing an additional 3,509 shares during the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup increased their price target on Forestar Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a research note on Thursday, January 22nd. JPMorgan Chase & Co. raised their target price on Forestar Group from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Zacks Research upgraded Forestar Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Wall Street Zen cut shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Forestar Group currently has an average rating of “Moderate Buy” and a consensus price target of $31.75.

Forestar Group Trading Down 0.2%

Shares of Forestar Group stock opened at $28.72 on Monday. The stock has a 50 day moving average of $27.03 and a 200 day moving average of $26.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 8.78 and a beta of 1.42. Forestar Group Inc has a fifty-two week low of $18.00 and a fifty-two week high of $30.74.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Forestar Group had a return on equity of 9.76% and a net margin of 9.90%.The company had revenue of $273.00 million for the quarter, compared to the consensus estimate of $265.48 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts predict that Forestar Group Inc will post 3.44 earnings per share for the current year.

Forestar Group Company 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.