PDT Partners LLC Buys 23,432 Shares of Forestar Group Inc $FOR

Key Points

• PDT Partners LLC increased its stake in Forestar Group Inc (NYSE:FOR) by 56.3%, owning a total of 65,056 shares worth approximately $1.375 million as of its latest SEC filing.
• Forestar Group reported a net income miss in its latest quarterly earnings, with an EPS of $0.65 compared to consensus estimates of $0.78, despite a year-over-year revenue increase of 22.6%.
• Analysts set an average price target for Forestar Group at $30.20, with the stock currently rated as a "Buy" by the majority of analysts, indicating positive expectations for its future performance.

PDT Partners LLC increased its position in Forestar Group Inc (NYSE:FOR - Free Report) by 56.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,056 shares of the oil and gas exploration company's stock after purchasing an additional 23,432 shares during the period. PDT Partners LLC owned approximately 0.13% of Forestar Group worth $1,375,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC raised its position in Forestar Group by 50.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 56,938 shares of the oil and gas exploration company's stock valued at $1,204,000 after buying an additional 19,008 shares during the last quarter. Royal Bank of Canada increased its holdings in Forestar Group by 27.6% in the 1st quarter. Royal Bank of Canada now owns 487,582 shares of the oil and gas exploration company's stock worth $10,308,000 after acquiring an additional 105,361 shares during the last quarter. Palogic Value Management L.P. purchased a new position in Forestar Group during the 1st quarter valued at about $1,374,000. Ieq Capital LLC purchased a new position in Forestar Group during the 1st quarter valued at about $214,000. Finally, Jump Financial LLC grew its holdings in Forestar Group by 27.4% during the 1st quarter. Jump Financial LLC now owns 26,071 shares of the oil and gas exploration company's stock valued at $551,000 after buying an additional 5,601 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Price Performance

FOR traded up $0.47 during midday trading on Friday, hitting $28.63. The stock had a trading volume of 187,495 shares, compared to its average volume of 147,766. The company has a market cap of $1.46 billion, a P/E ratio of 8.97 and a beta of 1.43. The business has a fifty day moving average of $25.07 and a 200 day moving average of $22.03. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. Forestar Group Inc has a 1 year low of $18.00 and a 1 year high of $34.82.

Forestar Group (NYSE:FOR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.13). The firm 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%.The firm's quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. Forestar Group has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Forestar Group Inc will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on FOR. Citigroup began coverage on Forestar Group in a report on Tuesday, July 15th. They set an "outperform" rating for the company. Citizens Jmp began coverage on Forestar Group in a report on Tuesday, July 15th. They set an "outperform" rating and a $30.00 price objective for the company. Finally, JMP Securities set a $30.00 price objective on 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 issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average 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.