Total Wealth Planning & Management Inc. Makes New Investment in Forestar Group Inc $FOR

Total Wealth Planning & Management Inc. bought a new position in shares of Forestar Group Inc (NYSE:FOR) during the 4th quarter, HoldingsChannel reports. The firm bought 22,398 shares of the oil and gas exploration company’s stock, valued at approximately $552,000.

Several other institutional investors have also recently made changes to their positions in FOR. AQR Capital Management LLC lifted its position in shares of Forestar Group by 32.1% during the first quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company’s stock worth $4,811,000 after acquiring an additional 55,266 shares in the last quarter. Millennium Management LLC lifted its position in shares of Forestar Group by 50.8% during the first quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock worth $10,342,000 after acquiring an additional 164,753 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Forestar Group by 63.7% during the first quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock worth $102,000 after acquiring an additional 1,879 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Forestar Group during the first quarter worth $850,000. Finally, Strs Ohio purchased a new stake in shares of Forestar Group during the first quarter worth $74,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on FOR. Weiss Ratings downgraded Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. BTIG Research began coverage on Forestar Group in a research report on Monday, March 30th. They set a “hold” rating on the stock. Finally, Zacks Research downgraded Forestar Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.67.

Forestar Group Trading Up 3.3%

Forestar Group stock opened at $28.43 on Friday. The stock has a market cap of $1.45 billion, a P/E ratio of 8.67 and a beta of 1.41. Forestar Group Inc has a fifty-two week low of $19.26 and a fifty-two week high of $30.74. The firm’s fifty day moving average price is $26.43 and its 200-day moving average price is $26.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.36.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.09). The firm had revenue of $374.30 million during the quarter, compared to the consensus estimate of $372.57 million. Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. Equities research analysts forecast that Forestar Group Inc will post 3.06 earnings per share for the current fiscal year.

About Forestar Group

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.