Vanguard Group Inc. Has $73.64 Million Stock Position in Forestar Group Inc $FOR

Key Points

• Vanguard Group Inc. raised its stake in Forestar by 4.1% to 2,769,594 shares (about 5.45% of the company), a position worth roughly $73.64 million, and institutional investors now own about 35.50% of the stock.
• Analyst sentiment is mixed but positive overall with a MarketBeat average rating of "Moderate Buy" and a consensus price target of $31.75; Citigroup raised its target to $38 and Zacks upgraded the stock to "Strong Buy."
• Forestar recently beat quarterly expectations, reporting $0.30 EPS vs. $0.21 expected and revenue of $273M (up 9% YoY); the stock trades around $25.86, with a market cap of ~$1.32B and a P/E of 7.91.

Vanguard Group Inc. increased its stake in Forestar Group Inc (NYSE:FOR - Free Report) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,769,594 shares of the oil and gas exploration company's stock after purchasing an additional 110,286 shares during the quarter. Vanguard Group Inc. owned approximately 5.45% of Forestar Group worth $73,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in Forestar Group by 1.1% during the third quarter. Rhumbline Advisers now owns 42,573 shares of the oil and gas exploration company's stock valued at $1,132,000 after buying an additional 457 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Forestar Group by 1,519.0% in the third quarter. Bessemer Group Inc. now owns 3,740 shares of the oil and gas exploration company's stock worth $99,000 after acquiring an additional 3,509 shares in the last quarter. Savant Capital LLC raised its holdings in shares of Forestar Group by 32.4% during the third quarter. Savant Capital LLC now owns 14,711 shares of the oil and gas exploration company's stock valued at $391,000 after acquiring an additional 3,601 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Forestar Group by 71.9% during the third quarter. Envestnet Asset Management Inc. now owns 19,816 shares of the oil and gas exploration company's stock valued at $527,000 after acquiring an additional 8,289 shares during the period. Finally, AlphaQuest LLC lifted its position in shares of Forestar Group by 124.3% in the 3rd quarter. AlphaQuest LLC now owns 16,093 shares of the oil and gas exploration company's stock valued at $428,000 after acquiring an additional 8,918 shares in the last quarter. Institutional investors and hedge funds own 35.50% of the company's stock.

Analyst Ratings Changes

FOR has been the subject of a number of recent analyst reports. Zacks Research raised shares of Forestar Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 29th. Wall Street Zen downgraded shares of Forestar Group from a "buy" rating to a "hold" rating in a research note on Friday, January 23rd. Citigroup raised their target price on Forestar Group from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Forestar Group in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.75.

Forestar Group Stock Performance

Shares of NYSE FOR opened at $25.86 on Friday. The business's 50-day moving average price is $27.29 and its two-hundred day moving average price is $26.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. Forestar Group Inc has a one year low of $18.00 and a one year high of $30.74. The company has a market capitalization of $1.32 billion, a P/E ratio of 7.91 and a beta of 1.42.

Forestar Group (NYSE:FOR - Get Free Report) last issued its earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. Forestar Group had a return on equity of 9.76% and a net margin of 9.90%.The company had revenue of $273.00 million for the quarter, compared to analyst estimates of $265.48 million. During the same period in the prior year, the firm posted $0.32 EPS. The business's revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that Forestar Group Inc will post 3.44 earnings per share for the current fiscal year.

Forestar Group Profile

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar's integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.