Heartland Advisors Inc. Raises Position in Forestar Group Inc (NYSE:FOR)

Key Points

• Heartland Advisors Inc. increased its stake in Forestar Group Inc. by 25.3%, acquiring an additional 99,300 shares, bringing its total holdings to approximately 491,900 shares valued at $10.4 million.
• Analysts have mixed views on Forestar Group, with a consensus rating of "Moderate Buy" and an average price target of $30.20, despite BTIG Research lowering its target from $36.00 to $29.00.
• Forestar reported earnings per share of $0.65 for the last quarter, missing estimates by $0.13, even as revenue grew 22.6% year-over-year, totaling $390.5 million.

Heartland Advisors Inc. raised its stake in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 25.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,900 shares of the oil and gas exploration company's stock after acquiring an additional 99,300 shares during the quarter. Heartland Advisors Inc. owned approximately 0.97% of Forestar Group worth $10,399,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FOR. Signaturefd LLC increased its stake in Forestar Group by 119.1% during the 1st quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company's stock valued at $32,000 after buying an additional 823 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Forestar Group in the fourth quarter worth approximately $38,000. NewEdge Advisors LLC acquired a new stake in shares of Forestar Group during the fourth quarter worth approximately $76,000. Heck Capital Advisors LLC acquired a new stake in shares of Forestar Group during the fourth quarter worth approximately $112,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Forestar Group by 27.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company's stock worth $221,000 after purchasing an additional 1,856 shares during the period. Institutional investors and hedge funds own 35.50% of the company's stock.

Forestar Group Stock Down 0.1%

Forestar Group stock traded down $0.02 during trading on Monday, hitting $25.10. 151,573 shares of the company were exchanged, compared to its average volume of 196,817. The company has a market capitalization of $1.28 billion, a P/E ratio of 7.87 and a beta of 1.40. 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 business's 50 day moving average is $20.76 and its 200 day moving average is $21.47. Forestar Group Inc has a 52 week low of $18.00 and a 52 week high of $34.82.

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 net margin of 10.54% and a return on equity of 10.02%. The business had revenue of $390.50 million during the quarter, compared to analysts' expectations of $397.50 million. During the same period in the previous year, the business earned $0.76 EPS. The business's revenue was up 22.6% on a year-over-year basis. Analysts predict that Forestar Group Inc will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Transactions at Forestar Group

In related news, Director Elizabeth Parmer sold 1,460 shares of Forestar Group stock in a transaction on Monday, May 12th. The stock was sold at an average price of $20.57, for a total value of $30,032.20. Following the completion of the sale, the director owned 3,357 shares of the company's stock, valued at $69,053.49. The trade was a 30.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.40% of the company's stock.

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.