Lee Danner & Bass Inc. Makes New Investment in Forestar Group Inc $FOR

Lee Danner & Bass Inc. acquired a new position in shares of Forestar Group Inc (NYSE:FOR) in the 1st quarter, Holdings Channel reports. The fund acquired 26,745 shares of the oil and gas exploration company’s stock, valued at approximately $654,000.

A number of other large investors have also recently made changes to their positions in the stock. New York State Teachers Retirement System purchased a new position in Forestar Group in the 1st quarter worth $44,000. Janney Montgomery Scott LLC acquired a new position in shares of Forestar Group in the first quarter valued at about $557,000. Corient Private Wealth LLC acquired a new position in shares of Forestar Group in the fourth quarter valued at about $225,000. NewEdge Advisors LLC raised its stake in shares of Forestar Group by 367.2% in the fourth quarter. NewEdge Advisors LLC now owns 17,166 shares of the oil and gas exploration company’s stock worth $423,000 after purchasing an additional 13,492 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Forestar Group in the fourth quarter worth about $266,000. 35.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings lowered Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. BTIG Research started coverage on shares of Forestar Group in a research report on Monday, March 30th. They set a “hold” rating for the company. Finally, Zacks Research cut shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Forestar Group presently has an average rating of “Hold” and a consensus price target of $32.67.

Forestar Group Price Performance

Shares of FOR opened at $30.87 on Monday. The business’s 50-day moving average is $28.17 and its two-hundred day moving average is $27.05. The company has a market capitalization of $1.57 billion, a P/E ratio of 9.41 and a beta of 1.39. Forestar Group Inc has a fifty-two week low of $20.79 and a fifty-two week high of $32.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.36.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.09). Forestar Group had a net margin of 9.80% and a return on equity of 9.49%. The company had revenue of $374.30 million during the quarter, compared to analyst estimates of $372.56 million. During the same period last year, the firm earned $0.62 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last 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.