Kennedy Capital Management LLC cut its stake in shares of Frontdoor Inc. (NASDAQ:FTDR – Free Report) by 20.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 149,684 shares of the company’s stock after selling 38,416 shares during the period. Kennedy Capital Management LLC’s holdings in Frontdoor were worth $8,635,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in FTDR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Frontdoor by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock valued at $1,761,000 after acquiring an additional 1,994 shares during the last quarter. Millennium Management LLC increased its position in shares of Frontdoor by 533.0% during the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock valued at $11,814,000 after acquiring an additional 258,920 shares during the last quarter. Empowered Funds LLC increased its position in shares of Frontdoor by 10.5% during the first quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock valued at $423,000 after acquiring an additional 1,044 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Frontdoor by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company’s stock valued at $9,126,000 after acquiring an additional 13,134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Frontdoor by 164.6% during the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after acquiring an additional 497 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on FTDR shares. Oppenheimer reiterated an “outperform” rating and set a $70.00 price target on shares of Frontdoor in a research report on Thursday, February 26th. Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Benchmark started coverage on shares of Frontdoor in a report on Thursday, March 26th. They issued a “buy” rating and a $80.00 price objective for the company. The Goldman Sachs Group upgraded shares of Frontdoor from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $50.00 to $67.00 in a report on Monday, March 2nd. Finally, Weiss Ratings cut shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.
Frontdoor Price Performance
Shares of NASDAQ:FTDR opened at $68.83 on Monday. The company has a market capitalization of $4.83 billion, a PE ratio of 19.72 and a beta of 1.50. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.95. Frontdoor Inc. has a twelve month low of $48.47 and a twelve month high of $70.77. The firm has a 50 day simple moving average of $61.90 and a 200-day simple moving average of $59.57.
Frontdoor (NASDAQ:FTDR – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.07. The business had revenue of $451.00 million during the quarter, compared to the consensus estimate of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, equities analysts predict that Frontdoor Inc. will post 4.48 EPS for the current fiscal year.
Frontdoor Company Profile
Frontdoor, Inc (NASDAQ:FTDR) is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.
Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.
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