Deutsche Bank AG Buys Shares of 100,857 Forestar Group Inc $FOR

Deutsche Bank AG purchased a new position in Forestar Group Inc (NYSE:FOR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 100,857 shares of the oil and gas exploration company’s stock, valued at approximately $3,192,000.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in Forestar Group by 32.1% in the first quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company’s stock valued at $4,811,000 after purchasing an additional 55,266 shares during 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 valued at $10,342,000 after buying an additional 164,753 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Forestar Group by 63.7% in the 1st quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock valued at $102,000 after buying an additional 1,879 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Forestar Group in the 1st quarter valued at about $850,000. Finally, Strs Ohio purchased a new position in shares of Forestar Group in the 1st quarter worth approximately $74,000. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Forestar Group Price Performance

Shares of FOR stock opened at $28.96 on Thursday. Forestar Group Inc has a fifty-two week low of $22.81 and a fifty-two week high of $32.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 8.70 and a beta of 1.41. The stock’s 50-day simple moving average is $29.56 and its 200-day simple moving average is $27.93.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.11). The company had revenue of $407.00 million during the quarter, compared to analysts’ expectations of $437.73 million. Forestar Group had a net margin of 9.88% and a return on equity of 9.42%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FOR shares. Citizens Jmp reissued a “market outperform” rating and set a $35.00 target price on shares of Forestar Group in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.67.

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.