Forestar Group Inc $FOR Shares Sold by Denali Advisors LLC

Denali Advisors LLC lowered its position in shares of Forestar Group Inc (NYSE:FOR) by 14.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 287,213 shares of the oil and gas exploration company’s stock after selling 49,614 shares during the period. Forestar Group makes up about 0.9% of Denali Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Denali Advisors LLC’s holdings in Forestar Group were worth $7,637,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its stake in Forestar Group by 3,273.8% during the 2nd quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock worth $28,000 after buying an additional 1,375 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Forestar Group by 201.1% during the second 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 acquiring an additional 1,406 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Forestar Group during the third quarter worth about $72,000. Strs Ohio purchased a new stake in shares of Forestar Group during the first quarter worth about $74,000. Finally, Bessemer Group Inc. lifted its stake in shares of Forestar Group by 1,519.0% in the third quarter. Bessemer Group Inc. now owns 3,740 shares of the oil and gas exploration company’s stock worth $99,000 after acquiring an additional 3,509 shares in the last quarter. 35.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FOR has been the topic of a number of recent analyst reports. Zacks Research upgraded Forestar Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. JMP Securities set a $35.00 price target on shares of Forestar Group in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of Forestar Group from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Wall Street Zen downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Forestar Group in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Forestar Group presently has an average rating of “Moderate Buy” and a consensus price target of $32.40.

Forestar Group Stock Up 2.3%

Shares of NYSE:FOR opened at $30.40 on Monday. The company’s fifty day moving average is $26.38 and its two-hundred day moving average is $26.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. Forestar Group Inc has a 1-year low of $18.00 and a 1-year high of $30.74. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 9.30 and a beta of 1.43.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. The firm had revenue of $273.00 million for the quarter, compared to analyst estimates of $265.48 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. Forestar Group’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts anticipate 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.