KLP Kapitalforvaltning AS Buys 10,600 Shares of Forestar Group Inc (NYSE:FOR)

Key Points

• KLP Kapitalforvaltning AS increased its stake in Forestar Group Inc by 55.2%, owning approximately 0.06% of the company valued at $630,000 as of the latest SEC filing.
• Forestar Group reported a quarterly EPS of $0.65, missing the consensus estimate by $0.13, while its revenue increased by 22.6% year-over-year, totaling $390.5 million.
• Several research analysts have established an average target price of $30.20, with ratings varying from "hold" to "strong buy" for Forestar Group shares.

KLP Kapitalforvaltning AS increased its holdings in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 55.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,800 shares of the oil and gas exploration company's stock after acquiring an additional 10,600 shares during the period. KLP Kapitalforvaltning AS owned about 0.06% of Forestar Group worth $630,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $283,000 after acquiring an additional 456 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Forestar Group by 3.2% during the 4th quarter. Sterling Capital Management LLC now owns 15,670 shares of the oil and gas exploration company's stock worth $406,000 after buying an additional 479 shares during the last quarter. Signaturefd LLC boosted its stake in 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 valued at $32,000 after buying an additional 823 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $338,000 after buying an additional 1,076 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in Forestar Group in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 35.50% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Forestar Group

In related news, Director Elizabeth Parmer sold 1,460 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 3,357 shares of the company's stock, valued at approximately $69,053.49. This trade represents a 30.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is owned by insiders.

Forestar Group Stock Up 1.0%

Forestar Group stock traded up $0.26 during trading on Friday, hitting $25.06. 238,711 shares of the company were exchanged, compared to its average volume of 197,866. Forestar Group Inc has a 52 week low of $18.00 and a 52 week high of $34.82. The company has a market capitalization of $1.27 billion, a P/E ratio of 7.86 and a beta of 1.40. The business's 50 day moving average is $21.21 and its 200 day moving average is $21.51. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52.

Forestar Group (NYSE:FOR - Get Free Report) last posted its quarterly earnings data 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 for 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%. The business's quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. Analysts predict that Forestar Group Inc will post 3.44 earnings per share for the current year.

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.