Permit Capital LLC Purchases 42,000 Shares of Frontdoor Inc. $FTDR

Permit Capital LLC increased its position in shares of Frontdoor Inc. (NASDAQ:FTDR) by 27.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 197,600 shares of the company’s stock after acquiring an additional 42,000 shares during the quarter. Frontdoor makes up approximately 3.5% of Permit Capital LLC’s holdings, making the stock its 8th biggest holding. Permit Capital LLC owned approximately 0.27% of Frontdoor worth $11,400,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FTDR. Private Trust Co. NA boosted its position in Frontdoor by 256.3% during the fourth quarter. Private Trust Co. NA now owns 563 shares of the company’s stock worth $32,000 after acquiring an additional 405 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Frontdoor by 164.6% during the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after acquiring an additional 497 shares during the last quarter. Quarry LP boosted its position in Frontdoor by 429.5% during the third quarter. Quarry LP now owns 879 shares of the company’s stock worth $59,000 after acquiring an additional 713 shares during the last quarter. Global Retirement Partners LLC boosted its position in Frontdoor by 8,376.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock worth $64,000 after acquiring an additional 1,089 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in Frontdoor during the third quarter worth approximately $87,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on FTDR. The Goldman Sachs Group upgraded shares of Frontdoor from a “sell” rating to a “neutral” rating and lifted their price target for the company from $50.00 to $67.00 in a report on Monday, March 2nd. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target on shares of Frontdoor in a report on Thursday, February 26th. Wall Street Zen lowered shares of Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings lowered shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. Finally, Benchmark started coverage on shares of Frontdoor in a report on Thursday, March 26th. They issued a “buy” rating and a $80.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Frontdoor Stock Performance

Frontdoor stock opened at $63.64 on Monday. Frontdoor Inc. has a 12-month low of $48.47 and a 12-month high of $70.77. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 18.23 and a beta of 1.50. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47. The firm’s fifty day moving average price is $60.61 and its 200 day moving average price is $59.01.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The firm had revenue of $451.00 million for the quarter, compared to the consensus estimate of $442.28 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts forecast that Frontdoor Inc. will post 4.48 EPS for the current fiscal year.

Frontdoor 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.