Forestar Group Inc $FOR Holdings Lifted by First Trust Advisors LP

First Trust Advisors LP boosted its holdings in Forestar Group Inc (NYSE:FOR) by 16.1% during the 1st quarter, Holdings Channel reports. The fund owned 172,086 shares of the oil and gas exploration company’s stock after acquiring an additional 23,858 shares during the quarter. First Trust Advisors LP’s holdings in Forestar Group were worth $4,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Forestar Group by 1,206.6% during the third 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 purchasing an additional 917 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Forestar Group during the 4th quarter worth about $27,000. Fifth Third Bancorp acquired a new stake in shares of Forestar Group in the 1st quarter worth approximately $31,000. Comerica Bank boosted its holdings in shares of Forestar Group by 76.5% in 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. Finally, Tower Research Capital LLC TRC increased its stake in shares of Forestar Group by 201.1% during the second 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 period. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Stock Performance

FOR stock opened at $29.30 on Wednesday. The firm has a 50 day simple moving average of $29.25 and a 200 day simple moving average of $27.63. Forestar Group Inc has a 52 week low of $22.81 and a 52 week high of $32.06. The stock has a market cap of $1.49 billion, a P/E ratio of 8.80 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.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data 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). The firm had revenue of $407.00 million for the quarter, compared to analysts’ expectations of $437.73 million. Forestar Group had a return on equity of 9.42% and a net margin of 9.88%.Forestar Group’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share.

Analyst Ratings Changes

FOR has been the topic of a number of research reports. Citizens Jmp reissued a “market outperform” rating and issued a $35.00 price objective on shares of Forestar Group in a research note on Wednesday, July 22nd. Weiss Ratings lowered Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Forestar Group presently has a consensus rating of “Hold” and a consensus price target 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.