SG Americas Securities LLC Raises Holdings in Frontdoor Inc. $FTDR

SG Americas Securities LLC grew its position in shares of Frontdoor Inc. (NASDAQ:FTDR) by 553.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,287 shares of the company’s stock after purchasing an additional 18,031 shares during the period. SG Americas Securities LLC’s holdings in Frontdoor were worth $1,228,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Broad Bay Capital Management LP purchased a new position in shares of Frontdoor during the second quarter valued at approximately $46,886,000. Eventide Asset Management LLC purchased a new position in shares of Frontdoor during the second quarter valued at approximately $28,506,000. Marshall Wace LLP purchased a new position in shares of Frontdoor during the third quarter valued at approximately $23,871,000. Cubist Systematic Strategies LLC boosted its position in shares of Frontdoor by 309.6% during the second quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company’s stock valued at $25,429,000 after buying an additional 326,112 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Frontdoor by 533.0% during the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock valued at $11,814,000 after purchasing an additional 258,920 shares during the period.

Wall Street Analyst Weigh In

FTDR has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised shares of Frontdoor from a “sell” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $67.00 in a research note on Monday, March 2nd. Wall Street Zen lowered shares of Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Truist Financial set a $71.00 target price on shares of Frontdoor in a research note on Monday, January 26th. Benchmark began coverage on shares of Frontdoor in a research note on Thursday, March 26th. They set a “buy” rating and a $80.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target on shares of Frontdoor in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

Frontdoor Stock Down 1.4%

Frontdoor stock opened at $54.99 on Wednesday. The business has a fifty day moving average of $59.22 and a two-hundred day moving average of $59.40. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 4.73. The firm has a market cap of $3.88 billion, a P/E ratio of 16.13 and a beta of 1.41. Frontdoor Inc. has a twelve month low of $36.79 and a twelve month high of $70.77.

Frontdoor (NASDAQ:FTDR) last posted its earnings results on Thursday, February 26th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. The company had revenue of $433.00 million during the quarter, compared to analyst estimates of $421.62 million. Frontdoor had a return on equity of 120.79% and a net margin of 12.18%.Frontdoor’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, analysts forecast that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal year.

Frontdoor Company 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.