Deutsche Bank AG Invests $3.19 Million in Forestar Group Inc $FOR

Key Points

• Deutsche Bank acquired 100,857 Forestar Group shares in the second quarter, valued at approximately $3.19 million and representing a 0.20% stake. Institutional investors collectively own 35.50% of the company.
• Forestar reported quarterly earnings of $0.70 per share and revenue of $407 million, missing analyst expectations of $0.81 EPS and $437.73 million in revenue, although revenue increased 4.2% year over year.
• Analysts maintain a generally neutral outlook, with an average “Hold” rating and a consensus price target of $32.67; the stock recently opened at $28.96.

Deutsche Bank AG purchased a new position in shares of Forestar Group Inc (NYSE:FOR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 100,857 shares of the oil and gas exploration company's stock, valued at approximately $3,192,000. Deutsche Bank AG owned 0.20% of Forestar Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank boosted its position in shares of Forestar Group by 76.5% during the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company's stock valued at $34,000 after buying an additional 550 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of Forestar Group by 3.4% in the first quarter. Glenmede Trust Co. NA now owns 21,687 shares of the oil and gas exploration company's stock worth $530,000 after buying an additional 714 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Forestar Group by 1,206.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company's stock worth $26,000 after acquiring an additional 917 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Forestar Group by 0.6% during the 2nd quarter. First Trust Advisors LP now owns 160,204 shares of the oil and gas exploration company's stock worth $3,204,000 after acquiring an additional 952 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Forestar Group during the 4th quarter worth approximately $27,000. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Stock Performance

FOR stock opened at $28.96 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50-day moving average price of $29.56 and a 200 day moving average price of $27.93. The company has a market capitalization of $1.48 billion, a P/E ratio of 8.70 and a beta of 1.41. Forestar Group Inc has a 1-year low of $22.81 and a 1-year high of $32.06.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.11). Forestar Group had a return on equity of 9.42% and a net margin of 9.88%.The business had revenue of $407.00 million during the quarter, compared to analysts' expectations of $437.73 million. During the same period last year, the company earned $0.65 earnings per share. The firm's revenue was up 4.2% compared to the same quarter last year.

Analysts Set New Price Targets

A number of analysts have weighed in on FOR shares. Weiss Ratings upgraded Forestar Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th. Citizens Jmp reissued a "market outperform" rating and set a $35.00 target price on shares of Forestar Group in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Forestar Group currently has an average rating of "Hold" and a consensus price target of $32.67.

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.

Want to see what other hedge funds are holding FOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forestar Group Inc (NYSE:FOR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.