US Bancorp DE Cuts Stake in Forestar Group Inc (NYSE:FOR)

US Bancorp DE lowered its stake in shares of Forestar Group Inc (NYSE:FOR) by 20.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,764 shares of the oil and gas exploration company’s stock after selling 2,743 shares during the period. US Bancorp DE’s holdings in Forestar Group were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FOR. JPMorgan Chase & Co. boosted its position in Forestar Group by 77.3% during the fourth quarter. JPMorgan Chase & Co. now owns 134,238 shares of the oil and gas exploration company’s stock worth $3,479,000 after acquiring an additional 58,525 shares during the last quarter. Geode Capital Management LLC boosted its position in Forestar Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 473,883 shares of the oil and gas exploration company’s stock worth $12,286,000 after acquiring an additional 2,038 shares during the last quarter. Wells Fargo & Company MN boosted its position in Forestar Group by 19.2% during the fourth quarter. Wells Fargo & Company MN now owns 32,026 shares of the oil and gas exploration company’s stock worth $830,000 after acquiring an additional 5,152 shares during the last quarter. Renaissance Technologies LLC boosted its position in Forestar Group by 14.5% during the fourth quarter. Renaissance Technologies LLC now owns 190,580 shares of the oil and gas exploration company’s stock worth $4,940,000 after acquiring an additional 24,100 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in Forestar Group by 3.2% during the fourth quarter. Sterling Capital Management LLC now owns 15,670 shares of the oil and gas exploration company’s stock worth $406,000 after acquiring an additional 479 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FOR shares. BTIG Research lowered their price target on shares of Forestar Group from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. JMP Securities set a $30.00 price objective on shares of Forestar Group and gave the stock a “market outperform” rating in a report on Tuesday, July 15th. Citigroup started coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued an “outperform” rating on the stock. Finally, Citizens Jmp started coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued an “outperform” rating and a $30.00 price objective on the stock. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.20.

Forestar Group Price Performance

Shares of FOR opened at $27.37 on Friday. Forestar Group Inc has a fifty-two week low of $18.00 and a fifty-two week high of $34.82. The firm’s 50 day moving average price is $22.59 and its 200 day moving average price is $21.56. The company has a market cap of $1.39 billion, a P/E ratio of 8.58 and a beta of 1.39. 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) last announced its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 earnings per share. Forestar Group’s quarterly revenue was up 22.6% on a year-over-year basis. On average, research analysts forecast that Forestar Group Inc will post 3.44 earnings per share for the current fiscal year.

Forestar Group 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.