Palogic Value Management L.P. Takes Position in Forestar Group Inc $FOR

Key Points

• Palogic Value Management L.P. has acquired 65,000 shares of Forestar Group Inc, valued at approximately $1.37 million, representing a 0.13% ownership stake as of its latest SEC filing.
• Wall Street analysts remain optimistic about Forestar Group, with a consensus rating of "Buy" and an average target price of $30.20.
• Forestar Group's recent earnings report showed a miss on EPS estimates and revenue, indicating a need for attention despite a year-over-year revenue increase of 22.6%.

Palogic Value Management L.P. bought a new stake in shares of Forestar Group Inc (NYSE:FOR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 65,000 shares of the oil and gas exploration company's stock, valued at approximately $1,374,000. Palogic Value Management L.P. owned approximately 0.13% of Forestar Group at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FOR. Price T Rowe Associates Inc. MD increased its holdings in shares of Forestar Group by 9.0% during the 4th 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 purchasing an additional 1,076 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Forestar Group by 6.1% during the 4th quarter. Northern Trust Corp now owns 217,260 shares of the oil and gas exploration company's stock valued at $5,631,000 after purchasing an additional 12,502 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Forestar Group by 27.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company's stock worth $221,000 after acquiring an additional 1,856 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Forestar Group by 254.1% in the 4th quarter. BNP Paribas Financial Markets now owns 14,058 shares of the oil and gas exploration company's stock worth $364,000 after acquiring an additional 10,088 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Forestar Group by 106.4% in the 4th quarter. Bank of America Corp DE now owns 39,035 shares of the oil and gas exploration company's stock worth $1,012,000 after acquiring an additional 20,127 shares in the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Price Performance

Shares of Forestar Group stock traded down $0.68 during trading hours on Friday, reaching $27.75. 85,514 shares of the company's stock were exchanged, compared to its average volume of 140,016. Forestar Group Inc has a 1 year low of $18.00 and a 1 year high of $34.82. The company has a market capitalization of $1.41 billion, a P/E ratio of 8.70 and a beta of 1.43. The business has a fifty day moving average of $25.74 and a two-hundred day moving average of $22.21. 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 released its 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). 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 analysts' expectations of $397.50 million. During the same period in the previous year, the company earned $0.76 EPS. Forestar Group's quarterly revenue was up 22.6% compared to the same quarter last year. Forestar Group has set its FY 2025 guidance at EPS. As a group, research analysts predict that Forestar Group Inc will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FOR has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating for the company. Citizens Jmp initiated coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating and a $30.00 price target for the company. Finally, JMP Securities set a $30.00 price target on shares of Forestar Group and gave the stock a "market outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Forestar Group currently has a consensus rating of "Buy" and an average price target of $30.20.

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.