12,731 Shares in Forestar Group Inc $FOR Bought by Aristeia Capital L.L.C.

Key Points

• Aristeia Capital L.L.C. has made a new investment in Forestar Group Inc, acquiring 12,731 shares valued at approximately $269,000 in the first quarter.
• Forestar Group reported earnings of $0.65 per share for the last quarter, missing estimates by $0.13, despite a 22.6% year-over-year increase in revenue.
• Analysts have a positive outlook on Forestar Group, with a consensus target price of $30.20 and the majority rating it as a "Buy" or higher.

Aristeia Capital L.L.C. purchased a new position in Forestar Group Inc (NYSE:FOR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,731 shares of the oil and gas exploration company's stock, valued at approximately $269,000.

A number of other hedge funds also recently modified their holdings of FOR. Price T Rowe Associates Inc. MD raised its holdings in shares of Forestar Group by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,021 shares of the oil and gas exploration company's stock worth $338,000 after purchasing an additional 1,076 shares during the period. Northern Trust Corp raised its holdings in Forestar Group by 6.1% during the 4th quarter. Northern Trust Corp now owns 217,260 shares of the oil and gas exploration company's stock valued at $5,631,000 after acquiring an additional 12,502 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Forestar Group by 27.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company's stock valued at $221,000 after acquiring an additional 1,856 shares during the period. BNP Paribas Financial Markets raised its holdings in Forestar Group by 254.1% during the 4th quarter. BNP Paribas Financial Markets now owns 14,058 shares of the oil and gas exploration company's stock valued at $364,000 after acquiring an additional 10,088 shares during the period. Finally, Bank of America Corp DE raised its holdings in Forestar Group by 106.4% during the 4th quarter. Bank of America Corp DE now owns 39,035 shares of the oil and gas exploration company's stock valued at $1,012,000 after acquiring an additional 20,127 shares during the period. Institutional investors own 35.50% of the company's stock.

Analyst Upgrades and Downgrades

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

Forestar Group Price Performance

Shares of Forestar Group stock traded down $0.68 during trading on Friday, hitting $27.75. The stock had a trading volume of 85,514 shares, compared to its average volume of 137,111. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 8.70 and a beta of 1.43. Forestar Group Inc has a 12 month low of $18.00 and a 12 month high of $34.82. The business's 50-day moving average is $25.74 and its 200 day moving average is $22.21. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings results 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). Forestar Group had a return on equity of 10.02% and a net margin of 10.54%.The firm had revenue of $390.50 million during the quarter, compared to the consensus estimate of $397.50 million. During the same period in the previous year, the company posted $0.76 EPS. The company's revenue for the quarter was up 22.6% compared to the same quarter last year. 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 earnings per share for the current year.

Forestar Group 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.