Hennessy Advisors Inc. Boosts Holdings in Forestar Group Inc. (NYSE:FOR)

Hennessy Advisors Inc. lifted its holdings in Forestar Group Inc. (NYSE:FOR - Free Report) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,000 shares of the oil and gas exploration company's stock after buying an additional 16,300 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.50% of Forestar Group worth $6,584,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Forestar Group by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company's stock valued at $78,012,000 after buying an additional 201,032 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Forestar Group by 13.7% in the 3rd quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company's stock worth $11,668,000 after purchasing an additional 43,369 shares during the last quarter. Barclays PLC boosted its stake in Forestar Group by 20.3% in the 3rd quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company's stock worth $1,865,000 after purchasing an additional 9,733 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Forestar Group by 73.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 62,237 shares of the oil and gas exploration company's stock valued at $2,015,000 after purchasing an additional 26,360 shares during the last quarter. Finally, State Street Corp increased its stake in Forestar Group by 0.9% during the 3rd quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company's stock valued at $13,838,000 after purchasing an additional 3,922 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup cut their price target on shares of Forestar Group from $43.00 to $39.00 and set a "buy" rating on the stock in a report on Monday, January 6th.

Forestar Group Stock Performance

Shares of FOR traded down $0.46 during trading hours on Friday, hitting $26.80. The stock had a trading volume of 161,634 shares, compared to its average volume of 121,565. Forestar Group Inc. has a 12 month low of $24.81 and a 12 month high of $40.92. The stock has a fifty day moving average price of $27.68 and a 200 day moving average price of $30.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $1.36 billion, a PE ratio of 6.68 and a beta of 1.74.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.29. The business had revenue of $551.40 million during the quarter, compared to the consensus estimate of $503.76 million. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 EPS. Analysts anticipate that Forestar Group Inc. will post 3.67 EPS for the current year.

Forestar Group Profile

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.