Legal & General Group Plc bought a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund bought 165,107 shares of the company’s stock, valued at approximately $12,811,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Frontdoor in the 2nd quarter worth about $859,552,000. Boston Partners grew its position in shares of Frontdoor by 8.5% during the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock valued at $333,742,000 after buying an additional 454,040 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Frontdoor by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 1,887,029 shares of the company’s stock valued at $108,879,000 after buying an additional 27,237 shares during the last quarter. Renaissance Technologies LLC raised its stake in Frontdoor by 1.3% during the first quarter. Renaissance Technologies LLC now owns 1,849,787 shares of the company’s stock worth $97,780,000 after acquiring an additional 23,800 shares during the period. Finally, Reinhart Partners LLC. raised its stake in Frontdoor by 4.0% during the second quarter. Reinhart Partners LLC. now owns 1,684,065 shares of the company’s stock worth $130,668,000 after acquiring an additional 64,561 shares during the period.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on FTDR shares. The Goldman Sachs Group restated a “neutral” rating on shares of Frontdoor in a research note on Friday, August 7th. JPMorgan Chase & Co. started coverage on Frontdoor in a research report on Monday, August 24th. They set a “neutral” rating and a $95.00 price target on the stock. Benchmark raised their price target on Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Truist Financial boosted their price objective on Frontdoor from $82.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Oppenheimer upped their price objective on Frontdoor from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Frontdoor has a consensus rating of “Moderate Buy” and a consensus target price of $92.60.
Frontdoor Trading Down 2.4%
NASDAQ:FTDR opened at $80.87 on Tuesday. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 21.45 and a beta of 1.47. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.59 and a current ratio of 1.59. Frontdoor Inc. has a 1 year low of $48.47 and a 1 year high of $93.43. The business has a fifty day moving average of $78.32 and a 200-day moving average of $67.58.
Frontdoor (NASDAQ:FTDR – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.17. The business had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 earnings per share. Equities analysts predict that Frontdoor Inc. will post 4.67 earnings per share for the current 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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