Ieq Capital LLC Takes Position in Forestar Group Inc $FOR

Ieq Capital LLC acquired a new position in shares of Forestar Group Inc (NYSE:FOR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,500 shares of the oil and gas exploration company’s stock, valued at approximately $680,000.

Several other large investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased 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 valued at $26,000 after buying an additional 917 shares in the last quarter. Allworth Financial LP acquired a new stake in Forestar Group in the second quarter valued at approximately $33,000. Kestra Advisory Services LLC acquired a new stake in Forestar Group in the fourth quarter valued at approximately $27,000. Fifth Third Bancorp bought a new stake in shares of Forestar Group during the first quarter valued at approximately $31,000. Finally, Comerica Bank increased its holdings in shares of Forestar Group by 76.5% during the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 550 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FOR has been the topic of a number of research reports. Weiss Ratings raised Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Citizens Jmp reissued a “market outperform” rating and issued a $35.00 price target on shares of Forestar Group in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Forestar Group presently has a consensus rating of “Hold” and a consensus price target of $32.67.

Forestar Group Price Performance

Shares of NYSE FOR opened at $28.54 on Friday. Forestar Group Inc has a fifty-two week low of $22.81 and a fifty-two week high of $32.06. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 8.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.44 and a current ratio of 1.44. The firm’s 50-day simple moving average is $29.54 and its 200 day simple moving average is $27.92.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.11). The company had revenue of $407.00 million for the quarter, compared to analyst estimates of $437.73 million. Forestar Group had a net margin of 9.88% and a return on equity of 9.42%. Forestar Group’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS.

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.