Forestar Group Inc $FOR Stock: Moody Aldrich Partners LLC Increases Holdings

Moody Aldrich Partners LLC boosted its holdings in Forestar Group Inc (NYSE:FOR) by 44.0% in the third quarter, HoldingsChannel reports. The firm owned 168,993 shares of the oil and gas exploration company’s stock after purchasing an additional 51,632 shares during the period. Moody Aldrich Partners LLC’s holdings in Forestar Group were worth $4,352,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FOR. Fifth Third Bancorp purchased a new stake in Forestar Group during the 1st quarter worth approximately $31,000. Allworth Financial LP acquired a new position in shares of Forestar Group in the 2nd quarter valued at approximately $33,000. New York State Teachers Retirement System purchased a new position in shares of Forestar Group during the 1st quarter valued at approximately $44,000. Versant Capital Management Inc boosted its stake in shares of Forestar Group by 74.0% during the 2nd quarter. Versant Capital Management Inc now owns 2,727 shares of the oil and gas exploration company’s stock valued at $86,000 after buying an additional 1,160 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Forestar Group by 85.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,424 shares of the oil and gas exploration company’s stock valued at $88,000 after buying an additional 1,574 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Stock Down 1.8%

Shares of Forestar Group stock opened at $25.80 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1.32 billion, a P/E ratio of 7.75 and a beta of 1.40. Forestar Group Inc has a fifty-two week low of $22.81 and a fifty-two week high of $32.06. The business has a 50-day moving average price of $26.67 and a 200 day moving average price of $27.45.

Analyst Upgrades and Downgrades

FOR has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Citizens Jmp reaffirmed a “market outperform” rating and issued a $35.00 price target on shares of Forestar Group in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.67.

About Forestar Group

Forestar Group Inc (NYSE: FOR) is a residential lot development company that acquires, entitles and develops land for housing construction. The company sells finished and partially developed residential lots to homebuilders, including its majority shareholder, D.R. Horton, as well as other national, regional and local builders.

Forestar’s activities generally include identifying land opportunities, obtaining development approvals, installing infrastructure and managing the construction of roads, utilities and other improvements needed for residential communities.