266,921 Shares in Forestar Group Inc $FOR Bought by Jupiter Topco LLC

Jupiter Topco LLC bought a new stake in Forestar Group Inc (NYSE:FOR) in the second quarter, HoldingsChannel reports. The fund bought 266,921 shares of the oil and gas exploration company’s stock, valued at approximately $8,459,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its position in shares of Forestar Group by 1,206.6% in 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 last quarter. Allworth Financial LP acquired a new position in shares of Forestar Group during the 2nd quarter worth approximately $33,000. Kestra Advisory Services LLC bought a new stake in shares of Forestar Group during the 4th quarter worth approximately $27,000. Comerica Bank raised its stake in shares of Forestar Group by 76.5% during 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 in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Forestar Group in the 1st quarter valued at approximately $31,000. 35.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citizens Jmp reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Forestar Group in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Forestar Group currently has an average rating of “Hold” and an average price target of $32.67.

Forestar Group Stock Performance

FOR opened at $28.56 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $1.46 billion, a PE ratio of 8.58 and a beta of 1.41. The business has a fifty day simple moving average of $29.52 and a 200 day simple moving average of $27.92. Forestar Group Inc has a 1 year low of $22.81 and a 1 year high of $32.06.

Forestar Group (NYSE:FOR) last released its quarterly earnings results 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 business had revenue of $407.00 million during the quarter, compared to analyst estimates of $437.73 million. Forestar Group had a net margin of 9.88% and a return on equity of 9.42%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share.

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.