Teacher Retirement System of Texas Takes $22.47 Million Position in Frontdoor Inc (FTDR)

Teacher Retirement System of Texas bought a new stake in shares of Frontdoor Inc (NASDAQ:FTDR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 652,809 shares of the company’s stock, valued at approximately $22,470,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTDR. Sterling Investment Advisors Ltd. bought a new stake in Frontdoor during the 1st quarter valued at $34,000. American International Group Inc. bought a new stake in Frontdoor during the 1st quarter valued at $55,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Frontdoor during the 1st quarter valued at $135,000. BNP Paribas Arbitrage SA bought a new stake in Frontdoor during the 1st quarter valued at $163,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Frontdoor during the 1st quarter valued at $198,000. 79.87% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Peter L. Cella purchased 7,000 shares of the stock in a transaction on Friday, May 10th. The stock was bought at an average price of $38.47 per share, with a total value of $269,290.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Shares of FTDR opened at $40.81 on Thursday. Frontdoor Inc has a one year low of $20.66 and a one year high of $49.92. The stock has a market cap of $3.25 billion and a price-to-earnings ratio of 23.06.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.07. The firm had revenue of $271.00 million for the quarter, compared to analyst estimates of $268.69 million. During the same period in the prior year, the firm posted $0.26 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Equities analysts forecast that Frontdoor Inc will post 1.49 earnings per share for the current year.

A number of research firms have recently weighed in on FTDR. Zacks Investment Research raised Frontdoor from a “strong sell” rating to a “hold” rating in a research report on Monday, February 11th. Compass Point reissued a “buy” rating and issued a $47.50 price objective (up previously from $45.00) on shares of Frontdoor in a research report on Thursday, May 9th. SunTrust Banks reissued a “buy” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Frontdoor in a research report on Tuesday, May 7th. Guggenheim began coverage on Frontdoor in a research report on Monday, April 8th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Raymond James began coverage on Frontdoor in a research report on Thursday, April 25th. They issued an “outperform” rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $42.99.

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About Frontdoor

frontdoor, inc. provides home service plans in the United States. The company's home service plans cover the repair or replacement of components of up to 21 household systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as central heating, ventilation and air conditioning systems.

See Also: Cost of Debt

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Institutional Ownership by Quarter for Frontdoor (NASDAQ:FTDR)

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