Wasatch Advisors LP Has $54.61 Million Stock Holdings in Frontdoor Inc. $FTDR

Wasatch Advisors LP reduced its position in shares of Frontdoor Inc. (NASDAQ:FTDR) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,033,141 shares of the company’s stock after selling 79,329 shares during the period. Wasatch Advisors LP owned about 1.46% of Frontdoor worth $54,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA raised its holdings in Frontdoor by 256.3% in the 4th quarter. Private Trust Co. NA now owns 563 shares of the company’s stock valued at $32,000 after buying an additional 405 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Frontdoor by 164.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after acquiring an additional 497 shares during the last quarter. Quarry LP grew its holdings in Frontdoor by 429.5% during the 3rd quarter. Quarry LP now owns 879 shares of the company’s stock worth $59,000 after acquiring an additional 713 shares during the last quarter. Global Retirement Partners LLC increased its position in Frontdoor by 8,376.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock valued at $64,000 after acquiring an additional 1,089 shares during the period. Finally, Huntington National Bank increased its position in Frontdoor by 18.8% in the 4th quarter. Huntington National Bank now owns 1,723 shares of the company’s stock valued at $99,000 after acquiring an additional 273 shares during the period.

Analyst Ratings Changes

Several research firms have recently issued reports on FTDR. Wall Street Zen downgraded shares of Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings cut shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. The Goldman Sachs Group upgraded Frontdoor from a “sell” rating to a “neutral” rating and increased their price objective for the company from $50.00 to $67.00 in a report on Monday, March 2nd. Finally, Benchmark began coverage on Frontdoor in a research report on Thursday, March 26th. They set a “buy” rating and a $80.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.00.

Frontdoor Stock Performance

Shares of FTDR stock opened at $74.73 on Friday. The business’s 50 day simple moving average is $64.88 and its 200 day simple moving average is $60.81. Frontdoor Inc. has a one year low of $48.47 and a one year high of $75.96. The stock has a market capitalization of $5.25 billion, a PE ratio of 21.41 and a beta of 1.50. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Thursday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The business had revenue of $451.00 million during the quarter, compared to the consensus estimate of $442.28 million. During the same quarter in the prior year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts forecast that Frontdoor Inc. will post 4.48 earnings per share for the current year.

About Frontdoor

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.