LPL Financial LLC Acquires 6,460 Shares of Forestar Group Inc $FOR

LPL Financial LLC raised its holdings in Forestar Group Inc (NYSE:FOR) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 130,642 shares of the oil and gas exploration company’s stock after acquiring an additional 6,460 shares during the quarter. LPL Financial LLC owned about 0.26% of Forestar Group worth $2,762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC boosted its position in shares of Forestar Group by 119.1% during the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 823 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Forestar Group during the fourth quarter worth $38,000. NewEdge Advisors LLC bought a new position in shares of Forestar Group during the fourth quarter worth $76,000. Heck Capital Advisors LLC bought a new position in shares of Forestar Group during the fourth quarter worth $112,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Forestar Group by 27.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company’s stock worth $221,000 after purchasing an additional 1,856 shares in the last quarter. 35.50% of the stock is owned by institutional investors.

Forestar Group Trading Down 1.1%

FOR opened at $27.05 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52. Forestar Group Inc has a 12 month low of $18.00 and a 12 month high of $34.82. The firm’s fifty day simple moving average is $22.74 and its 200 day simple moving average is $21.55. The stock has a market capitalization of $1.38 billion, a P/E ratio of 8.48 and a beta of 1.39.

Forestar Group (NYSE:FOR) last issued its quarterly 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). Forestar Group had a net margin of 10.54% and a return on equity of 10.02%. The business had revenue of $390.50 million during the quarter, compared to analyst estimates of $397.50 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, research analysts anticipate that Forestar Group Inc will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

FOR has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They set an “outperform” rating on the stock. Citizens Jmp initiated coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They issued an “outperform” rating and a $30.00 price objective on the stock. JMP Securities set a $30.00 price objective on shares of Forestar Group and gave the company a “market outperform” rating in a research report on Tuesday, July 15th. Finally, BTIG Research cut their price objective 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. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Forestar Group presently has an average rating of “Moderate Buy” and a consensus 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.