Jacobs Levy Equity Management Inc. Sells 29,319 Shares of Forestar Group Inc $FOR

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Forestar Group by 9.5% during the first quarter, now owning 278,334 shares worth approximately $5.88 million.
• Forestar Group has a current market capitalization of $1.44 billion and reported a 22.6% increase in revenue year-over-year, although it missed the earnings estimate by $0.13.
• Analysts have a consensus rating of "Buy" for Forestar Group, with a price target set at approximately $30.20.

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 278,334 shares of the oil and gas exploration company's stock after selling 29,319 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.55% of Forestar Group worth $5,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Forestar Group by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,905 shares of the oil and gas exploration company's stock worth $283,000 after buying an additional 456 shares during the period. Signaturefd LLC boosted its holdings in shares of Forestar Group by 119.1% in the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company's stock worth $32,000 after buying an additional 823 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Forestar Group by 9.0% in the fourth 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 buying an additional 1,076 shares during the period. Invesco Ltd. boosted its holdings in shares of Forestar Group by 3.7% in the first quarter. Invesco Ltd. now owns 39,557 shares of the oil and gas exploration company's stock worth $836,000 after buying an additional 1,423 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of Forestar Group in the fourth quarter worth about $38,000. Institutional investors own 35.50% of the company's stock.

Forestar Group Stock Down 2.4%

Shares of NYSE FOR traded down $0.68 during mid-day trading on Friday, reaching $27.75. The company had a trading volume of 85,514 shares, compared to its average volume of 137,111. The stock has a fifty day moving average of $25.74 and a two-hundred day moving average of $22.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization 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.

Forestar Group (NYSE:FOR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.13). The company had revenue of $390.50 million during the quarter, compared to analysts' expectations of $397.50 million. Forestar Group had a return on equity of 10.02% and a net margin of 10.54%.Forestar Group's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. Forestar Group has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Forestar Group Inc will post 3.44 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on FOR. JMP Securities set a $30.00 target price on shares of Forestar Group and gave the stock a "market outperform" rating in a report on Tuesday, July 15th. 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 target price for the company. Finally, Citigroup began coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Forestar Group has an average rating of "Buy" and an average 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.