Northern Trust Corp Raises Stake in Frontdoor, Inc. (NASDAQ:FTDR)

Northern Trust Corp grew its holdings in Frontdoor, Inc. (NASDAQ:FTDR) by 10.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 933,652 shares of the company’s stock after buying an additional 88,215 shares during the period. Northern Trust Corp owned 1.23% of Frontdoor worth $51,043,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FTDR. Bessemer Group Inc. raised its stake in Frontdoor by 514.7% during the 4th quarter. Bessemer Group Inc. now owns 627 shares of the company’s stock valued at $34,000 after acquiring an additional 525 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Frontdoor in the fourth quarter valued at approximately $60,000. TD Private Client Wealth LLC raised its stake in shares of Frontdoor by 12.9% during the fourth quarter. TD Private Client Wealth LLC now owns 1,597 shares of the company’s stock worth $87,000 after purchasing an additional 183 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Frontdoor by 315.3% during the fourth quarter. Blue Trust Inc. now owns 1,632 shares of the company’s stock worth $89,000 after purchasing an additional 1,239 shares during the period. Finally, Nkcfo LLC purchased a new position in Frontdoor in the 4th quarter valued at $96,000.

Frontdoor Stock Performance

NASDAQ FTDR opened at $53.01 on Thursday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $3.96 billion, a P/E ratio of 17.55 and a beta of 1.21. Frontdoor, Inc. has a 1-year low of $32.95 and a 1-year high of $63.49. The business has a 50 day moving average price of $40.41 and a 200 day moving average price of $50.95.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.37 by $0.27. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The business had revenue of $426.00 million for the quarter, compared to analyst estimates of $416.37 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts expect that Frontdoor, Inc. will post 3.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Frontdoor from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $40.00 in a research note on Tuesday, April 22nd. The Goldman Sachs Group reduced their price objective on shares of Frontdoor from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Monday, March 3rd. Finally, Truist Financial increased their target price on Frontdoor from $58.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 14th.

About Frontdoor

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company’s home warranty customers subscribe to an annual service plan agreement that covers 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.