Swiss National Bank Decreases Holdings in Frontdoor Inc. $FTDR

Swiss National Bank decreased its position in shares of Frontdoor Inc. (NASDAQ:FTDR) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,903 shares of the company’s stock after selling 3,600 shares during the quarter. Swiss National Bank owned 0.20% of Frontdoor worth $5,644,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Frontdoor by 621.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 881,083 shares of the company’s stock worth $48,169,000 after purchasing an additional 758,947 shares during the period. Fiera Capital Corp purchased a new position in shares of Frontdoor during the 1st quarter worth $28,024,000. Reinhart Partners LLC. lifted its stake in shares of Frontdoor by 16.2% during the 1st quarter. Reinhart Partners LLC. now owns 2,368,684 shares of the company’s stock worth $91,005,000 after purchasing an additional 331,066 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Frontdoor during the 4th quarter worth $17,465,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Frontdoor by 275.6% during the 4th quarter. Janus Henderson Group PLC now owns 340,094 shares of the company’s stock worth $18,605,000 after buying an additional 249,552 shares during the last quarter.

Frontdoor Stock Performance

Shares of FTDR stock opened at $59.52 on Tuesday. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.49 and a current ratio of 1.49. The company’s 50-day simple moving average is $58.03 and its 200-day simple moving average is $51.28. Frontdoor Inc. has a one year low of $35.61 and a one year high of $64.91. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 17.56 and a beta of 1.32.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.19. The business had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $602.62 million. Frontdoor had a return on equity of 125.21% and a net margin of 13.07%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 EPS. Equities analysts anticipate that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Frontdoor news, SVP Jeffrey Fiarman sold 129,673 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $56.15, for a total transaction of $7,281,138.95. Following the completion of the transaction, the senior vice president owned 34,646 shares in the company, valued at approximately $1,945,372.90. The trade was a 78.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.48% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on FTDR. Truist Financial increased their price target on Frontdoor from $67.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. The Goldman Sachs Group increased their price target on Frontdoor from $44.00 to $50.00 and gave the company a “sell” rating in a report on Wednesday, August 6th. Oppenheimer increased their price target on Frontdoor from $56.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on Frontdoor from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, June 3rd.

Frontdoor Profile

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.