Integrated Advisors Network LLC Invests $485,000 in Forestar Group Inc $FOR

Integrated Advisors Network LLC acquired a new stake in Forestar Group Inc (NYSE:FOR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,226 shares of the oil and gas exploration company’s stock, valued at approximately $485,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new position in shares of Forestar Group during the third quarter worth approximately $243,000. NewEdge Wealth LLC raised its stake in shares of Forestar Group by 23.4% during the 3rd quarter. NewEdge Wealth LLC now owns 25,177 shares of the oil and gas exploration company’s stock worth $630,000 after buying an additional 4,777 shares in the last quarter. Vanguard Group Inc. raised its position in Forestar Group by 4.1% in the third quarter. Vanguard Group Inc. now owns 2,769,594 shares of the oil and gas exploration company’s stock worth $73,644,000 after acquiring an additional 110,286 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Forestar Group by 1.1% in the 3rd quarter. Rhumbline Advisers now owns 42,573 shares of the oil and gas exploration company’s stock valued at $1,132,000 after purchasing an additional 457 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in Forestar Group by 1,519.0% in the third quarter. Bessemer Group Inc. now owns 3,740 shares of the oil and gas exploration company’s stock valued at $99,000 after buying an additional 3,509 shares in the last quarter. 35.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FOR shares. JPMorgan Chase & Co. raised their price target on Forestar Group from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Zacks Research upgraded Forestar Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a research note on Thursday, January 22nd. Citigroup upped their target price on shares of Forestar Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, Wall Street Zen cut shares of Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.75.

Forestar Group Trading Down 0.2%

Shares of FOR stock opened at $28.72 on Monday. 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 fifty-two week low of $18.00 and a fifty-two week high of $30.74. The firm’s 50 day moving average price is $27.03 and its two-hundred day moving average price is $26.51. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 8.78 and a beta of 1.42.

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

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.