American Century Companies Inc. Acquires 36,626 Shares of Forestar Group Inc $FOR

American Century Companies Inc. grew its holdings in shares of Forestar Group Inc (NYSE:FOR) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 702,223 shares of the oil and gas exploration company’s stock after buying an additional 36,626 shares during the quarter. American Century Companies Inc. owned approximately 1.38% of Forestar Group worth $18,672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allworth Financial LP raised its position in Forestar Group by 3,273.8% in the 2nd quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock worth $28,000 after buying an additional 1,375 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Forestar Group by 201.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock worth $42,000 after purchasing an additional 1,406 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Forestar Group in the third quarter worth approximately $72,000. Strs Ohio acquired a new stake in shares of Forestar Group during the first quarter worth approximately $74,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Forestar Group by 1,519.0% during the third quarter. Bessemer Group Inc. now owns 3,740 shares of the oil and gas exploration company’s stock worth $99,000 after purchasing an additional 3,509 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Stock Performance

NYSE:FOR opened at $25.28 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44. Forestar Group Inc has a twelve month low of $18.00 and a twelve month high of $30.74. The company has a fifty day moving average of $27.32 and a 200-day moving average of $26.48. The firm has a market capitalization of $1.29 billion, a P/E ratio of 7.73 and a beta of 1.42.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $273.00 million during the quarter, compared to analysts’ expectations of $265.48 million. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. As a group, sell-side analysts anticipate that Forestar Group Inc will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

FOR has been the topic of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Forestar Group in a research note on Thursday, January 22nd. 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 cut shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Citigroup upped their price target on shares of Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.75.

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.