Campbell & CO Investment Adviser LLC acquired a new stake in shares of Forestar Group Inc. (NYSE:FOR – Get Rating) in the first quarter, according to its latest filing with the Securities and Exchange Commission. The fund acquired 10,708 shares of the oil and gas exploration company, valued at around $190,000.
A number of other hedge funds have also recently changed their positions in FOR. Allspring Global Investments Holdings LLC bought a new position in shares of Forestar Group during Q4, valued at approximately $419,000. Envestnet Asset Management Inc. bought a new position in shares of Forestar Group during Q4, valued at approximately $250,000. American Century Companies Inc. increased its stake in Forestar Group by 46.2% in the 4th quarter. American Century Companies Inc. now owns 29,463 shares of the oil and gas exploration company worth $641,000 after purchasing an additional 9,306 shares during the period. Victory Capital Management Inc. increased its stake in Forestar Group by 21.3% in the 4th quarter. Victory Capital Management Inc. now owns 25,096 shares of the oil and gas exploration company worth $546,000 after purchasing an additional 4,403 shares during the period. Finally, the Swiss National Bank increased its stake in the Forestar group by 2.7% in the 4th quarter. The Swiss National Bank now owns 38,117 shares of the oil and gas exploration company worth $829,000 after buying an additional 1,000 shares during the period. 31.96% of the shares are currently held by institutional investors.
Analyst upgrades and downgrades
FOR has been the subject of several recent analyst reports. Wells Fargo & Company lowered its price target on Forestar Group from $20.00 to $16.00 and set an “overweight” rating for the company in a Friday, June 17 research note. StockNews.com downgraded Forestar Group from a “buy” rating to a “hold” rating in a Wednesday, July 20 research rating. BTIG Research downgraded Forestar Group from a “buy” rating to a “neutral” rating in a Wednesday, July 20 research note. TheStreet upgraded Forestar Group from a ‘b-‘ rating to a ‘c+’ rating in a Monday, May 23 report. Finally, Citigroup lowered its price target on Forestar Group from $30.00 to $25.00 in a Thursday, April 28 report.
Forestar group share down 2.0%
FOR shares opened at $13.39 on Thursday. The stock has a market capitalization of $666.27 million, a price-earnings ratio of 3.87 and a beta of 1.77. Forestar Group Inc. has a 1 year minimum of $12.91 and a 1 year maximum of $22.60. The company’s 50-day simple moving average is $14.07 and its 200-day simple moving average is $16.18. The company has a debt ratio of 0.61, a current ratio of 0.60 and a quick ratio of 0.60.
The Forestar Group (NYSE:FOR – Get Rating) last released its quarterly earnings data on Tuesday, July 19. The oil and gas exploration company reported earnings per share (EPS) of $0.80 for the quarter, missing the consensus estimate of $0.91 per ($0.11). The company posted revenue of $308.50 million for the quarter, compared to $412.80 million expected by analysts. Forestar Group had a return on equity of 15.89% and a net margin of 11.05%. During the same period last year, the company earned earnings per share of $0.61. As a group, stock analysts expect Forestar Group Inc. to post earnings per share of 3.05 for the current fiscal year.
Forestar Group Profile
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Forestar Group Inc operates as a residential lot development company in the United States. The acquires land and develops infrastructure for single-family residential communities. It sells its finished single-family residential lots to home builders. The company is headquartered in Arlington, Texas. Forestar Group Inc is a subsidiary of DR
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