Forestar Group Inc $FOR Holdings Lifted by Swedbank AB

Key Points

• Swedbank AB increased its stake in Forestar Group Inc by 100%, acquiring a total of 100,000 shares valued at approximately $2.11 million.
• Forestar Group's stock has received favorable ratings, with a consensus target price of $30.20 and multiple analysts rating it as a "Buy" or "Outperform."
• The company reported earnings of $0.65 per share for the last quarter, falling short of analysts' expectations, and its yearly revenue increased by 22.6%.

Swedbank AB boosted its position in Forestar Group Inc (NYSE:FOR - Free Report) by 100.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the oil and gas exploration company's stock after buying an additional 50,000 shares during the period. Swedbank AB owned approximately 0.20% of Forestar Group worth $2,114,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FOR. Northern Trust Corp grew its position in Forestar Group by 6.1% in 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 buying an additional 12,502 shares during the last quarter. BNP Paribas Financial Markets grew its position 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 valued at $364,000 after buying an additional 10,088 shares during the last quarter. Bank of America Corp DE grew its position 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 valued at $1,012,000 after buying an additional 20,127 shares during the last quarter. Deutsche Bank AG grew its position in Forestar Group by 5.4% in the 4th quarter. Deutsche Bank AG now owns 106,657 shares of the oil and gas exploration company's stock valued at $2,765,000 after buying an additional 5,475 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Forestar Group by 149.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 91,625 shares of the oil and gas exploration company's stock worth $2,375,000 after purchasing an additional 54,891 shares in the last quarter. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Forestar Group Trading Down 1.1%

Shares of NYSE FOR traded down $0.30 on Friday, reaching $26.78. 137,368 shares of the company traded hands, compared to its average volume of 189,649. Forestar Group Inc has a fifty-two week low of $18.00 and a fifty-two week high of $34.82. The company has a 50 day moving average of $26.17 and a 200 day moving average of $22.35. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.36 billion, a PE ratio of 8.39 and a beta of 1.43.

Forestar Group (NYSE:FOR - Get Free Report) last posted 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). The business had revenue of $390.50 million for the quarter, compared to analyst estimates of $397.50 million. Forestar Group had a return on equity of 10.02% and a net margin of 10.54%.The firm's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the company posted $0.76 EPS. Forestar Group has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Forestar Group Inc will post 3.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on FOR. Citigroup began coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They set an "outperform" rating on the stock. JMP Securities set a $30.00 target price on shares of Forestar Group and gave the stock a "market outperform" rating in a research report on Tuesday, July 15th. Finally, Citizens Jmp began coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They set an "outperform" rating and a $30.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $30.20.

About Forestar Group

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.