Jupiter Topco LLC Invests $8.46 Million in Forestar Group Inc $FOR

Key Points

• Jupiter Topco LLC acquired 266,921 shares of Forestar Group worth approximately $8.46 million, giving it a 0.52% stake. Institutional investors and hedge funds collectively own 35.5% of the company.
• Analysts maintain a generally neutral outlook: Forestar has an average “Hold” rating and a consensus price target of $32.67, while JMP reiterated a “Market Outperform” rating with a $35 target.
• Forestar’s latest quarterly results fell short of expectations, with EPS of $0.70 versus $0.81 expected and revenue of $407 million versus $437.73 million projected. Revenue still increased 4.2% year over year.

Jupiter Topco LLC purchased a new stake in Forestar Group Inc (NYSE:FOR - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 266,921 shares of the oil and gas exploration company's stock, valued at approximately $8,459,000. Jupiter Topco LLC owned 0.52% of Forestar Group at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in Forestar Group by 1,206.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company's stock valued at $26,000 after purchasing an additional 917 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Forestar Group in the 4th quarter valued at $27,000. Fifth Third Bancorp acquired a new position in shares of Forestar Group in the 1st quarter valued at $31,000. Allworth Financial LP bought a new stake in shares of Forestar Group in the 2nd quarter valued at $33,000. Finally, Comerica Bank raised its stake in Forestar Group by 76.5% during the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company's stock worth $34,000 after buying an additional 550 shares during the period. Institutional investors and hedge funds own 35.50% of the company's stock.

Analyst Ratings Changes

FOR has been the subject of several recent analyst reports. Weiss Ratings upgraded Forestar Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 12th. Citizens Jmp reiterated a "market outperform" rating and issued a $35.00 price objective on shares of Forestar Group in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $32.67.

Forestar Group Price Performance

Shares of NYSE FOR opened at $28.56 on Monday. The firm has a market cap of $1.46 billion, a PE ratio of 8.58 and a beta of 1.41. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.43. Forestar Group Inc has a 1-year low of $22.81 and a 1-year high of $32.06. The company has a fifty day moving average price of $29.52 and a 200 day moving average price of $27.92.

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

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.

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