American Century Companies Inc. Acquires 33,452 Shares of Forestar Group Inc $FOR

American Century Companies Inc. boosted its holdings in shares of Forestar Group Inc (NYSE:FOR) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 665,597 shares of the oil and gas exploration company’s stock after buying an additional 33,452 shares during the period. American Century Companies Inc.’s holdings in Forestar Group were worth $13,312,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Signaturefd LLC increased its position in shares of Forestar Group by 43.1% during the second quarter. Signaturefd LLC now owns 2,166 shares of the oil and gas exploration company’s stock worth $43,000 after acquiring an additional 652 shares in the last quarter. Allworth Financial LP boosted 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 valued at $28,000 after purchasing an additional 1,375 shares during the last quarter. Invesco Ltd. increased its holdings in Forestar Group by 3.7% during the 1st quarter. Invesco Ltd. now owns 39,557 shares of the oil and gas exploration company’s stock worth $836,000 after purchasing an additional 1,423 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Forestar Group by 63.7% in the first quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock worth $102,000 after purchasing an additional 1,879 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Forestar Group by 237.1% in the second quarter. Parallel Advisors LLC now owns 3,533 shares of the oil and gas exploration company’s stock worth $71,000 after purchasing an additional 2,485 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Forestar Group Stock Performance

Shares of FOR stock opened at $27.02 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 8.21 and a beta of 1.41. Forestar Group Inc has a 52 week low of $18.00 and a 52 week high of $30.00. The firm’s 50-day simple moving average is $25.53 and its two-hundred day simple moving average is $24.28.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.53. Forestar Group had a net margin of 10.11% and a return on equity of 10.08%. The firm had revenue of $670.50 million during the quarter, compared to the consensus estimate of $556.59 million. During the same period in the prior year, the firm earned $1.60 EPS. The company’s revenue was up 21.6% compared to the same quarter last year. As a group, equities analysts forecast that Forestar Group Inc will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

FOR has been the topic of several analyst reports. Zacks Research raised Forestar Group from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Citizens Jmp raised their price objective on Forestar Group from $30.00 to $35.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 29th. JMP Securities set a $35.00 target price on shares of Forestar Group in a research note on Wednesday, October 29th. JPMorgan Chase & Co. increased their target price on shares of Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Finally, Citigroup raised their price target on shares of Forestar Group from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Forestar Group has a consensus rating of “Moderate Buy” and an average target price of $32.00.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.