Goldman Sachs Group Inc. Lowers Stock Position in Forestar Group Inc $FOR

Key Points

• Goldman Sachs Group Inc. reduced its stake in Forestar Group by 35.0%, selling 80,096 shares and holding approximately 148,713 shares valued at $3.14 million.
• Forestar Group's recent earnings report showed $0.65 earnings per share, missing analysts' expectations by ($0.13), with quarterly revenue at $390.50 million.
• Analysts have set a consensus price target of $30.20 for Forestar Group, with several firms rating the stock as "Buy" or "Outperform."

Goldman Sachs Group Inc. lowered its holdings in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 35.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,713 shares of the oil and gas exploration company's stock after selling 80,096 shares during the period. Goldman Sachs Group Inc. owned approximately 0.29% of Forestar Group worth $3,144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FOR. Lazard Asset Management LLC purchased a new position in shares of Forestar Group during the fourth quarter valued at approximately $38,000. Signaturefd LLC boosted its position in shares of Forestar Group by 119.1% during the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company's stock worth $32,000 after acquiring an additional 823 shares during the last quarter. Strs Ohio bought a new position in shares of Forestar Group during the first quarter worth $74,000. Heck Capital Advisors LLC bought a new position in shares of Forestar Group during the fourth quarter worth $112,000. Finally, NewEdge Advisors LLC boosted its position in shares of Forestar Group by 63.7% during the first quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company's stock worth $102,000 after acquiring an additional 1,879 shares during the last quarter. Institutional investors own 35.50% of the company's stock.

Forestar Group Stock Performance

Shares of FOR stock traded up $0.07 during trading hours on Tuesday, hitting $25.74. The company's stock had a trading volume of 12,516 shares, compared to its average volume of 189,414. 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 50 day moving average of $26.32 and a 200 day moving average of $22.42. Forestar Group Inc has a 12-month low of $18.00 and a 12-month high of $34.82. The stock has a market cap of $1.31 billion, a PE ratio of 8.07 and a beta of 1.43.

Forestar Group (NYSE:FOR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 10.54% and a return on equity of 10.02%. The business's revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. Forestar Group has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Forestar Group Inc will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

FOR has been the subject of a number of research reports. Citigroup began coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They set an "outperform" rating for the company. JMP Securities set a $30.00 price objective on shares of Forestar Group and gave the company a "market outperform" rating in a research report 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 objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $30.20.

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.