Rhumbline Advisers boosted its position in shares of Frontdoor, Inc. (NASDAQ:FTDR – Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,783 shares of the company’s stock after buying an additional 13,899 shares during the period. Rhumbline Advisers owned 0.33% of Frontdoor worth $7,494,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of FTDR. Mizuho Markets Cayman LP purchased a new stake in Frontdoor during the 1st quarter worth approximately $47,396,000. State Street Corp grew its position in shares of Frontdoor by 110.0% in the second quarter. State Street Corp now owns 2,943,484 shares of the company’s stock valued at $70,879,000 after purchasing an additional 1,541,616 shares in the last quarter. Morgan Stanley grew its position in shares of Frontdoor by 191.3% in the fourth quarter. Morgan Stanley now owns 2,142,677 shares of the company’s stock valued at $44,568,000 after purchasing an additional 1,407,001 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Frontdoor in the first quarter valued at approximately $33,456,000. Finally, Vanguard Group Inc. grew its position in shares of Frontdoor by 15.5% in the third quarter. Vanguard Group Inc. now owns 8,758,236 shares of the company’s stock valued at $178,581,000 after purchasing an additional 1,172,788 shares in the last quarter.
Wall Street Analysts Forecast Growth
FTDR has been the subject of a number of analyst reports. Truist Financial upped their price target on Frontdoor from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. The Goldman Sachs Group upped their price objective on Frontdoor from $23.00 to $30.00 and gave the company a “sell” rating in a report on Thursday, August 3rd. TheStreet upgraded Frontdoor from a “c” rating to a “b-” rating in a report on Wednesday, August 2nd. Oppenheimer upped their price objective on Frontdoor from $34.00 to $44.00 in a report on Friday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on Frontdoor from $38.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.40.
Frontdoor Stock Down 2.2 %
NASDAQ:FTDR opened at $32.54 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 4.46. The stock’s fifty day moving average is $33.70 and its two-hundred day moving average is $30.61. Frontdoor, Inc. has a 52 week low of $19.06 and a 52 week high of $38.97. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 20.86 and a beta of 0.72.
Frontdoor (NASDAQ:FTDR – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.32. Frontdoor had a return on equity of 187.58% and a net margin of 7.47%. The company had revenue of $523.00 million for the quarter, compared to analysts’ expectations of $513.20 million. During the same period in the prior year, the firm earned $0.53 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. Research analysts anticipate that Frontdoor, Inc. will post 1.65 EPS for the current year.
Insider Activity
In other news, SVP Jeffrey Fiarman sold 1,743 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $32.74, for a total value of $57,065.82. Following the sale, the senior vice president now directly owns 18,419 shares in the company, valued at $603,038.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.
About Frontdoor
Frontdoor, Inc provides home service plans in the United States. The company's home service plans cover the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.
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