Forestar Group Inc $FOR Shares Purchased by Swedbank AB

Swedbank AB boosted its stake in Forestar Group Inc (NYSE:FOR) by 400.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the oil and gas exploration company’s stock after buying an additional 400,000 shares during the quarter. Swedbank AB’s holdings in Forestar Group were worth $13,295,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP lifted its position in shares of Forestar Group by 3,273.8% in the second quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock valued at $28,000 after acquiring an additional 1,375 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Forestar Group by 201.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock valued at $42,000 after purchasing an additional 1,406 shares during the last quarter. Signaturefd LLC lifted its holdings in Forestar Group by 43.1% in the 2nd quarter. Signaturefd LLC now owns 2,166 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 652 shares in the last quarter. Parallel Advisors LLC boosted its stake in Forestar Group by 237.1% during the 2nd quarter. Parallel Advisors LLC now owns 3,533 shares of the oil and gas exploration company’s stock worth $71,000 after purchasing an additional 2,485 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Forestar Group during the first quarter worth $74,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FOR shares. Zacks Research raised shares of Forestar Group from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Wall Street Zen upgraded shares of Forestar Group from a “hold” rating to a “buy” rating in a report on Friday, November 28th. Citizens Jmp boosted their target price on Forestar Group from $30.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Forestar Group in a report on Wednesday, October 8th. Finally, JMP Securities set a $35.00 price objective on Forestar Group in a research report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Forestar Group currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Forestar Group Stock Performance

NYSE:FOR opened at $24.52 on Friday. The company’s 50-day moving average is $25.40 and its two-hundred day moving average is $24.99. Forestar Group Inc has a 1-year low of $18.00 and a 1-year high of $29.44. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 7.45 and a beta of 1.41.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.17 by $0.53. Forestar Group had a net margin of 10.11% and a return on equity of 10.08%. The firm had revenue of $670.50 million for the quarter, compared to analyst estimates of $556.59 million. During the same quarter in the previous year, the company earned $1.60 EPS. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. Analysts forecast that Forestar Group Inc will post 3.44 EPS for the current 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.