Forestar Group Inc $FOR Shares Acquired 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 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 100,000 shares of the oil and gas exploration company's stock after acquiring an additional 50,000 shares during the period. Swedbank AB owned 0.20% of Forestar Group worth $2,114,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. American Century Companies Inc. increased its position in Forestar Group by 8.2% in the first quarter. American Century Companies Inc. now owns 632,145 shares of the oil and gas exploration company's stock worth $13,364,000 after buying an additional 47,923 shares during the last quarter. Heartland Advisors Inc. boosted its holdings in shares of Forestar Group by 25.3% in the first quarter. Heartland Advisors Inc. now owns 491,900 shares of the oil and gas exploration company's stock worth $10,399,000 after acquiring an additional 99,300 shares during the period. Millennium Management LLC boosted its holdings in shares of Forestar Group by 50.8% in the first quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company's stock worth $10,342,000 after acquiring an additional 164,753 shares during the period. Royal Bank of Canada boosted its holdings in shares of Forestar Group by 27.6% in the first 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 period. Finally, Denali Advisors LLC boosted its stake in Forestar Group by 24.4% during the first quarter. Denali Advisors LLC now owns 295,104 shares of the oil and gas exploration company's stock valued at $6,238,000 after buying an additional 57,943 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FOR. JMP Securities set a $30.00 price target on Forestar Group and gave the company a "market outperform" rating in a report on Tuesday, July 15th. Citizens Jmp assumed coverage on Forestar Group in a research note on Tuesday, July 15th. They issued an "outperform" rating and a $30.00 price objective for the company. Finally, Citigroup assumed coverage on Forestar Group in a research note on Tuesday, July 15th. They issued an "outperform" rating for the company. One 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 stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $30.20.

Forestar Group Trading Down 1.1%

Shares of NYSE:FOR traded down $0.30 during mid-day trading on Friday, reaching $26.78. 247,828 shares of the company were exchanged, compared to its average volume of 135,166. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 8.39 and a beta of 1.43. Forestar Group Inc has a 1 year low of $18.00 and a 1 year high of $34.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73. The firm's 50-day simple moving average is $26.25 and its 200 day simple moving average is $22.39.

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 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.13). The company had revenue of $390.50 million during the quarter, compared to analysts' expectations of $397.50 million. Forestar Group had a net margin of 10.54% and a return on equity of 10.02%. The company's quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the business earned $0.76 earnings per share. Forestar Group has set its FY 2025 guidance at EPS. Equities research analysts forecast that Forestar Group Inc will post 3.44 EPS for the current year.

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.