Heartland Advisors Inc. Has $10.40 Million Stock Holdings 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 position in Forestar Group Inc (NYSE:FOR - Free Report) by 25.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 491,900 shares of the oil and gas exploration company's stock after purchasing an additional 99,300 shares during the period. Heartland Advisors Inc. owned approximately 0.97% of Forestar Group worth $10,399,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FOR. Teacher Retirement System of Texas increased its stake in Forestar Group by 69.1% in the fourth quarter. Teacher Retirement System of Texas now owns 50,262 shares of the oil and gas exploration company's stock valued at $1,303,000 after purchasing an additional 20,542 shares in the last quarter. American Century Companies Inc. increased its stake in Forestar Group by 11.3% in the fourth quarter. American Century Companies Inc. now owns 584,222 shares of the oil and gas exploration company's stock valued at $15,143,000 after purchasing an additional 59,427 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Forestar Group in the fourth quarter valued at approximately $498,000. LPL Financial LLC increased its position in shares of Forestar Group by 3.5% during the fourth quarter. LPL Financial LLC now owns 124,182 shares of the oil and gas exploration company's stock worth $3,219,000 after acquiring an additional 4,161 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Forestar Group by 77.3% during the fourth quarter. JPMorgan Chase & Co. now owns 134,238 shares of the oil and gas exploration company's stock worth $3,479,000 after acquiring an additional 58,525 shares in the last quarter. Institutional investors own 35.50% of the company's stock.

Analyst Ratings Changes

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

Forestar Group Stock Up 0.9%

FOR traded up $0.22 during trading hours on Wednesday, hitting $25.38. 51,411 shares of the company's stock were exchanged, compared to its average volume of 195,881. Forestar Group Inc has a 1-year low of $18.00 and a 1-year high of $34.82. The stock's 50-day moving average is $20.97 and its two-hundred day moving average is $21.49. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 7.95 and a beta of 1.40. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52.

Forestar Group (NYSE:FOR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 EPS 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 business had revenue of $390.50 million for the quarter, compared to analyst estimates of $397.50 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. Sell-side analysts predict that Forestar Group Inc will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of the stock in a transaction on Monday, May 12th. The shares were 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 in the company, valued at $69,053.49. This trade represents a 30.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is currently owned by corporate insiders.

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.