LPL Financial LLC Boosts Stock Position in Forestar Group Inc $FOR

LPL Financial LLC increased its stake in Forestar Group Inc (NYSE:FOR) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,642 shares of the oil and gas exploration company’s stock after acquiring an additional 6,460 shares during the period. 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 also recently modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Forestar Group by 119.1% in the 1st quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company’s stock valued at $32,000 after acquiring an additional 823 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Forestar Group in the 4th quarter valued at about $38,000. NewEdge Advisors LLC bought a new stake in shares of Forestar Group in the 4th quarter valued at about $76,000. Heck Capital Advisors LLC bought a new stake in shares of Forestar Group in the 4th quarter valued at about $112,000. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Forestar Group by 27.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company’s stock valued at $221,000 after acquiring an additional 1,856 shares during the last quarter. Institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Down 1.1%

FOR stock opened at $27.05 on Monday. Forestar Group Inc has a fifty-two week low of $18.00 and a fifty-two week high of $34.82. The business’s 50 day moving average price is $22.74 and its two-hundred day moving average price is $21.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 8.48 and a beta of 1.39.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.13). Forestar Group had a return on equity of 10.02% and a net margin of 10.54%. The firm had revenue of $390.50 million for the quarter, compared to analysts’ expectations of $397.50 million. During the same quarter last year, the company posted $0.76 EPS. The firm’s revenue was up 22.6% on a year-over-year basis. As a group, analysts forecast that Forestar Group Inc will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FOR has been the subject of a number of recent analyst reports. JMP Securities set a $30.00 price target on Forestar Group and gave the company a “market outperform” rating in a research report on Tuesday, July 15th. BTIG Research lowered their price target on Forestar Group from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Citigroup initiated coverage on Forestar Group in a research report on Tuesday, July 15th. They set an “outperform” rating for the company. Finally, Citizens Jmp initiated coverage on Forestar Group in a research report on Tuesday, July 15th. They set an “outperform” rating and a $30.00 price target for the company. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Forestar Group currently has an average rating of “Moderate Buy” and a consensus target price of $30.20.

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.