AlphaQuest LLC Buys 29,685 Shares of Forestar Group Inc $FOR

Key Points

• AlphaQuest LLC significantly increased its holdings in Forestar Group Inc by 153.0% in the first quarter, owning 49,085 shares worth approximately $1.04 million.
• Forestar Group recently reported a quarterly earnings miss, with earnings per share of $0.65 compared to the consensus estimate of $0.78, despite a year-over-year revenue increase of 22.6%.
• Several brokerages have initiated coverage, with Citigroup and JMP Securities giving Forestar Group an "outperform" rating and a target price of $30.00.

AlphaQuest LLC grew its stake in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 153.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,085 shares of the oil and gas exploration company's stock after purchasing an additional 29,685 shares during the quarter. AlphaQuest LLC owned about 0.10% of Forestar Group worth $1,038,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FOR. Nuveen LLC acquired a new position in shares of Forestar Group during the 1st quarter worth approximately $3,123,000. Dimensional Fund Advisors LP increased its holdings in shares of Forestar Group by 4.6% during 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 last quarter. Janus Henderson Group PLC increased its holdings in shares of Forestar Group by 406.1% during the 4th quarter. Janus Henderson Group PLC now owns 125,408 shares of the oil and gas exploration company's stock worth $3,247,000 after acquiring an additional 100,629 shares during the last quarter. Heartland Advisors Inc. increased its holdings in shares of Forestar Group by 25.3% during the 1st quarter. Heartland Advisors Inc. now owns 491,900 shares of the oil and gas exploration company's stock worth $10,399,000 after acquiring an additional 99,300 shares during the last quarter. Finally, Crestline Management LP acquired a new position in shares of Forestar Group during the 4th quarter worth approximately $2,333,000. 35.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FOR shares. Citizens Jmp started coverage on Forestar Group in a report on Tuesday, July 15th. They set an "outperform" rating and a $30.00 target price on the stock. JMP Securities set a $30.00 price target on Forestar Group and gave the company a "market outperform" rating in a research note on Tuesday, July 15th. Finally, Citigroup assumed coverage on Forestar Group in a research note on Tuesday, July 15th. They issued an "outperform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Forestar Group presently has an average rating of "Buy" and an average target price of $30.20.

Forestar Group Price Performance

FOR traded down $0.10 on Friday, reaching $27.53. The stock had a trading volume of 15,698 shares, compared to its average volume of 193,612. Forestar Group Inc has a fifty-two week low of $18.00 and a fifty-two week high of $34.82. The firm has a 50-day moving average of $24.12 and a 200-day moving average of $21.84. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 8.62 and a beta of 1.39.

Forestar Group (NYSE:FOR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.13). The firm had revenue of $390.50 million during the quarter, compared to analyst estimates of $397.50 million. Forestar Group had a return on equity of 10.02% and a net margin of 10.54%.Forestar Group's revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. Forestar Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Forestar Group Inc will post 3.44 EPS for the current year.

About Forestar Group

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.