Great Lakes Advisors LLC Purchases New Stake in Frontdoor Inc. $FTDR

Great Lakes Advisors LLC purchased a new position in Frontdoor Inc. (NASDAQ:FTDR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 47,863 shares of the company’s stock, valued at approximately $3,714,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Frontdoor during the 2nd quarter valued at approximately $859,552,000. Boston Partners raised its holdings in shares of Frontdoor by 8.5% in the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock worth $333,742,000 after purchasing an additional 454,040 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Frontdoor in the second quarter worth about $33,812,000. Danske Bank A S acquired a new position in Frontdoor during the second quarter valued at $28,742,000. Finally, Marshall Wace LLP acquired a new stake in shares of Frontdoor during the 3rd quarter valued at $23,871,000.

Frontdoor Stock Performance

Shares of FTDR opened at $81.94 on Friday. The firm has a market cap of $5.65 billion, a P/E ratio of 21.73 and a beta of 1.47. Frontdoor Inc. has a twelve month low of $48.47 and a twelve month high of $93.43. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.59 and a current ratio of 1.59. The firm’s 50 day moving average price is $76.58 and its two-hundred day moving average price is $66.32.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Thursday, August 6th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.76 by $0.17. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The firm had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $643.40 million. During the same quarter in the previous year, the business posted $1.63 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that Frontdoor Inc. will post 4.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FTDR. The Goldman Sachs Group reiterated a “neutral” rating on shares of Frontdoor in a research note on Friday, August 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Frontdoor in a research note on Tuesday. Oppenheimer increased their price objective on shares of Frontdoor from $70.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Truist Financial boosted their target price on Frontdoor from $82.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Benchmark upped their price target on Frontdoor from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.00.

About Frontdoor

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.