22,780 Shares in Forestar Group Inc $FOR Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC purchased a new stake in Forestar Group Inc (NYSE:FOR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,780 shares of the oil and gas exploration company’s stock, valued at approximately $557,000.

A number of other large investors have also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Forestar Group by 1,206.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 917 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Forestar Group in the 4th quarter valued at $27,000. Comerica Bank grew its holdings in shares of Forestar Group by 76.5% in the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 550 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of 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 worth $42,000 after purchasing an additional 1,406 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Forestar Group during the 4th quarter worth about $66,000. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Price Performance

FOR opened at $30.42 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market capitalization of $1.55 billion, a P/E ratio of 9.28 and a beta of 1.39. The company’s 50 day simple moving average is $28.58 and its 200-day simple moving average is $27.32. Forestar Group Inc has a one year low of $21.53 and a one year high of $32.06.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data 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). Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The company had revenue of $374.30 million during the quarter, compared to the consensus estimate of $372.56 million. During the same quarter last year, the firm earned $0.62 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis.

Analysts Set New Price Targets

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

Forestar Group Company 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.