Virtus Advisers LLC Purchases New Position in Frontdoor Inc. $FTDR

Virtus Advisers LLC acquired a new position in shares of Frontdoor Inc. (NASDAQ:FTDR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,938 shares of the company’s stock, valued at approximately $926,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Private Trust Co. NA grew its stake in shares of 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 buying an additional 405 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Frontdoor by 164.6% during the 2nd 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 grew its position in Frontdoor by 429.5% during the 3rd 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 grew its position in Frontdoor by 8,376.9% during the 4th 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, Plato Investment Management Ltd acquired a new position in Frontdoor in the 2nd quarter worth about $83,000.

Frontdoor Stock Down 0.4%

Shares of NASDAQ: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 12-month low of $48.47 and a 12-month high of $93.43. The business has a fifty day simple moving average of $76.58 and a 200 day simple moving average of $66.32. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.98.

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

Wall Street Analyst Weigh In

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

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.