14,363 Shares in Forestar Group Inc (NYSE:FOR) Bought by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP purchased 14,363 shares of Forestar Group Inc (NYSE:FOR) for approximately $304,000, indicating growing interest from institutional investors.
• Forestar Group reported $0.65 earnings per share for the last quarter, missing the consensus estimate of $0.78, with revenues up 22.6% year-over-year.
• Analysts generally view the stock positively, with an average rating of "Moderate Buy" and a price target of $30.20, suggesting potential upside from current levels.

Aigen Investment Management LP bought a new stake in Forestar Group Inc (NYSE:FOR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 14,363 shares of the oil and gas exploration company's stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors also recently modified their holdings of FOR. Dimensional Fund Advisors LP increased its holdings in shares of Forestar Group by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company's stock worth $70,541,000 after acquiring an additional 119,357 shares during the period. Heartland Advisors Inc. increased its stake in shares of Forestar Group by 25.3% in the first quarter. Heartland Advisors Inc. now owns 491,900 shares of the oil and gas exploration company's stock valued at $10,399,000 after purchasing an additional 99,300 shares during the period. Bridgeway Capital Management LLC raised its holdings in shares of Forestar Group by 2.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 481,253 shares of the oil and gas exploration company's stock valued at $12,474,000 after buying an additional 12,473 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Forestar Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 473,883 shares of the oil and gas exploration company's stock worth $12,286,000 after buying an additional 2,038 shares during the period. Finally, Denali Advisors LLC grew its holdings in Forestar Group by 24.4% in the 1st quarter. Denali Advisors LLC now owns 295,104 shares of the oil and gas exploration company's stock worth $6,238,000 after buying an additional 57,943 shares in the last quarter. Institutional investors and hedge funds own 35.50% of the company's stock.

Forestar Group Trading Up 2.6%

Shares of NYSE:FOR opened at $27.17 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 8.52 and a beta of 1.39. Forestar Group Inc has a 1-year low of $18.00 and a 1-year high of $34.82. The company has a 50 day moving average price of $22.43 and a 200 day moving average price of $21.54.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.13). The company had revenue of $390.50 million for the quarter, compared to the consensus estimate of $397.50 million. Forestar Group had a return on equity of 10.02% and a net margin of 10.54%. The business's revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share. On average, research analysts anticipate that Forestar Group Inc will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FOR has been the topic of several recent analyst reports. Citigroup started coverage on Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating on the stock. BTIG Research reduced their price objective on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 21st. JMP Securities set a $30.00 target price on shares of Forestar Group and gave the company a "market outperform" rating in a research note on Tuesday, July 15th. Finally, Citizens Jmp assumed coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They set an "outperform" rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.20.

Forestar Group Company Profile

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.

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