Invesco Ltd. Buys 1,423 Shares of Forestar Group Inc $FOR

Invesco Ltd. raised its stake in shares of Forestar Group Inc (NYSE:FOR) by 3.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,557 shares of the oil and gas exploration company’s stock after acquiring an additional 1,423 shares during the quarter. Invesco Ltd. owned approximately 0.08% of Forestar Group worth $836,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Forestar Group by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,905 shares of the oil and gas exploration company’s stock valued at $283,000 after acquiring an additional 456 shares during the period. Signaturefd LLC lifted its holdings 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 valued at $32,000 after acquiring an additional 823 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Forestar Group by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,021 shares of the oil and gas exploration company’s stock valued at $338,000 after acquiring an additional 1,076 shares during the period. Lazard Asset Management LLC bought a new position in shares of Forestar Group during the fourth quarter valued at $38,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Forestar Group by 27.8% in the fourth 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 buying an additional 1,856 shares during the last quarter. 35.50% of the stock is owned by institutional investors.

Forestar Group Stock Performance

Shares of NYSE:FOR opened at $27.50 on Thursday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 8.62 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 current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $24.73 and a two-hundred day moving average price of $21.97.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data 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). The firm had revenue of $390.50 million for the quarter, compared to the consensus estimate of $397.50 million. Forestar Group had a return on equity of 10.02% and a net margin of 10.54%.The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share. Forestar Group has set its FY 2025 guidance at EPS. Equities analysts predict that Forestar Group Inc will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on FOR. Citizens Jmp began coverage on Forestar Group in a report on Tuesday, July 15th. They issued an “outperform” rating and a $30.00 price target for the company. Citigroup began coverage on Forestar Group in a report on Tuesday, July 15th. They issued an “outperform” rating for the company. Finally, 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $30.20.

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.