Handelsbanken Fonder AB lifted its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR – Get Rating) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,700 shares of the company's stock after acquiring an additional 700 shares during the period. Handelsbanken Fonder AB's holdings in Frontdoor were worth $498,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richelieu Gestion PLC bought a new stake in shares of Frontdoor during the first quarter worth about $25,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Frontdoor in the 4th quarter worth about $26,000. Van ECK Associates Corp grew its position in Frontdoor by 15.9% in the 1st quarter. Van ECK Associates Corp now owns 3,091 shares of the company's stock worth $92,000 after purchasing an additional 425 shares in the last quarter. Islay Capital Management LLC bought a new stake in Frontdoor in the 1st quarter worth about $101,000. Finally, CHICAGO TRUST Co NA grew its position in Frontdoor by 16.4% in the 1st quarter. CHICAGO TRUST Co NA now owns 7,485 shares of the company's stock worth $223,000 after purchasing an additional 1,053 shares in the last quarter. 98.68% of the stock is owned by institutional investors.
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Analyst Ratings Changes
A number of equities research analysts have issued reports on FTDR shares. The Goldman Sachs Group downgraded shares of Frontdoor from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $27.00 to $21.00 in a research report on Thursday, June 9th. Oppenheimer reduced their price objective on shares of Frontdoor from $41.00 to $34.00 in a research report on Friday, May 6th. Truist Financial cut shares of Frontdoor from a "buy" rating to a "hold" rating and dropped their target price for the company from $32.00 to $29.00 in a research note on Monday, May 23rd. Finally, Raymond James dropped their target price on shares of Frontdoor from $31.00 to $27.00 and set an "outperform" rating on the stock in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $33.50.
Frontdoor Stock Down 2.6 %
FTDR opened at $22.88 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 100.00. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.99 and a beta of 0.49. Frontdoor, Inc. has a twelve month low of $20.30 and a twelve month high of $48.66. The company's 50-day moving average price is $25.28 and its two-hundred day moving average price is $27.35.
Frontdoor (NASDAQ:FTDR – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.04). The business had revenue of $487.00 million for the quarter, compared to analysts' expectations of $476.55 million. Frontdoor had a net margin of 7.16% and a return on equity of 1,072.00%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share. As a group, equities analysts expect that Frontdoor, Inc. will post 0.98 earnings per share for the current year.
About Frontdoor
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Frontdoor, Inc provides home service plans in the United States. The company's home service plans cover 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 central heating, ventilation, and air conditioning systems.
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