Raymond James Financial Inc. Purchases New Position in Frontdoor, Inc. (NASDAQ:FTDR)

Raymond James Financial Inc. acquired a new position in shares of Frontdoor, Inc. (NASDAQ:FTDR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 319,463 shares of the company’s stock, valued at approximately $17,465,000. Raymond James Financial Inc. owned approximately 0.42% of Frontdoor as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FTDR. Martingale Asset Management L P grew its holdings in Frontdoor by 818.5% during the fourth quarter. Martingale Asset Management L P now owns 45,466 shares of the company’s stock worth $2,486,000 after buying an additional 40,516 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Frontdoor in the 4th quarter worth $740,000. RiverGlades Family Offices LLC bought a new stake in shares of Frontdoor in the 4th quarter worth $219,000. FIL Ltd raised its holdings in shares of Frontdoor by 8.3% in the fourth quarter. FIL Ltd now owns 2,410,561 shares of the company’s stock valued at $131,785,000 after purchasing an additional 184,051 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Frontdoor by 7.6% during the fourth quarter. Invesco Ltd. now owns 833,342 shares of the company’s stock valued at $45,559,000 after purchasing an additional 59,025 shares in the last quarter.

Frontdoor Stock Performance

NASDAQ FTDR opened at $39.65 on Monday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $2.96 billion, a PE ratio of 13.13 and a beta of 1.19. Frontdoor, Inc. has a 52-week low of $30.31 and a 52-week high of $63.49. The company has a 50-day simple moving average of $43.42 and a 200 day simple moving average of $51.43.

Analysts Set New Price Targets

Several research firms have commented on FTDR. The Goldman Sachs Group decreased their price objective on shares of Frontdoor from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Monday, March 3rd. Truist Financial increased their price target on Frontdoor from $58.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $50.25.

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.