Arrowstreet Capital Limited Partnership Raises Position in Frontdoor Inc. $FTDR

Arrowstreet Capital Limited Partnership raised its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,461,003 shares of the company’s stock after buying an additional 7,145 shares during the period. Arrowstreet Capital Limited Partnership owned about 2.08% of Frontdoor worth $77,229,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Private Trust Co. NA boosted its holdings in Frontdoor by 256.3% during the 4th quarter. Private Trust Co. NA now owns 563 shares of the company’s stock valued at $32,000 after acquiring an additional 405 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Frontdoor by 164.6% in the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after purchasing an additional 497 shares during the last quarter. Quarry LP grew its holdings in shares of Frontdoor by 429.5% in the third quarter. Quarry LP now owns 879 shares of the company’s stock worth $59,000 after purchasing an additional 713 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Frontdoor by 8,376.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock worth $64,000 after buying an additional 1,089 shares during the period. Finally, Huntington National Bank increased its stake in shares of Frontdoor by 18.8% in the fourth quarter. Huntington National Bank now owns 1,723 shares of the company’s stock worth $99,000 after buying an additional 273 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FTDR. Truist Financial set a $82.00 price target on shares of Frontdoor in a research report on Friday. Weiss Ratings downgraded shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.75.

Frontdoor Price Performance

Shares of Frontdoor stock opened at $71.49 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.95. Frontdoor Inc. has a 12-month low of $48.47 and a 12-month high of $80.73. The company has a market cap of $5.02 billion, a P/E ratio of 20.48 and a beta of 1.46. The company’s fifty day simple moving average is $69.85 and its two-hundred day simple moving average is $63.50.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.07. The company had revenue of $451.00 million for the quarter, compared to analysts’ expectations of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. Frontdoor’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. Research analysts anticipate that Frontdoor Inc. will post 4.48 EPS for the current year.

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.