Ieq Capital LLC Purchases New Shares in Forestar Group Inc $FOR

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

A number of other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC grew its position in Forestar Group by 32.1% during the first quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company’s stock worth $4,811,000 after buying an additional 55,266 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Forestar Group by 50.8% during the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock worth $10,342,000 after purchasing an additional 164,753 shares in the last quarter. NewEdge Advisors LLC raised its stake in Forestar Group by 63.7% in the first quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock valued at $102,000 after purchasing an additional 1,879 shares in the last quarter. Jane Street Group LLC acquired a new position in Forestar Group in the first quarter valued at about $850,000. Finally, Strs Ohio bought a new stake in Forestar Group during the first quarter worth about $74,000. Institutional investors own 35.50% of the company’s stock.

Forestar Group Trading Down 1.5%

NYSE FOR opened at $28.54 on Friday. The firm has a market capitalization of $1.46 billion, a PE ratio of 8.57 and a beta of 1.41. The business’s 50-day moving average price is $29.54 and its two-hundred day moving average price is $27.92. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.43. Forestar Group Inc has a 12 month low of $22.81 and a 12 month high of $32.06.

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 the consensus estimate of $0.81 by ($0.11). Forestar Group had a return on equity of 9.42% and a net margin of 9.88%.The firm had revenue of $407.00 million for the quarter, compared to the consensus estimate of $437.73 million. During the same quarter in the previous year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year.

Analysts Set New Price Targets

FOR has been the subject of several analyst reports. Citizens Jmp restated a “market outperform” rating and issued a $35.00 target price on shares of Forestar Group in a research report on Wednesday, July 22nd. Weiss Ratings raised Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Forestar Group has an average rating of “Hold” and an average target price of $32.67.

About Forestar Group

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.