Meeder Asset Management Inc. Makes New Investment in Frontdoor Inc. $FTDR

Meeder Asset Management Inc. purchased a new stake in Frontdoor Inc. (NASDAQ:FTDR) during the first quarter, HoldingsChannel.com reports. The firm purchased 21,527 shares of the company’s stock, valued at approximately $1,138,000.

Several other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Frontdoor by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,179,376 shares of the company’s stock worth $62,339,000 after buying an additional 31,259 shares during the period. KBC Group NV grew its position in Frontdoor by 158.8% during the first quarter. KBC Group NV now owns 70,819 shares of the company’s stock valued at $3,743,000 after acquiring an additional 43,459 shares during the period. California Public Employees Retirement System increased its stake in Frontdoor by 5.0% during the first quarter. California Public Employees Retirement System now owns 153,941 shares of the company’s stock worth $8,137,000 after acquiring an additional 7,267 shares during the last quarter. Gallacher Capital Management LLC purchased a new position in shares of Frontdoor in the 1st quarter worth about $482,000. Finally, Bessemer Group Inc. raised its holdings in shares of Frontdoor by 38.2% in the 1st quarter. Bessemer Group Inc. now owns 110,559 shares of the company’s stock worth $5,844,000 after purchasing an additional 30,576 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings cut Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. Benchmark initiated coverage on shares of Frontdoor in a report on Thursday, March 26th. They issued a “buy” rating and a $80.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Frontdoor currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Frontdoor Price Performance

Shares of NASDAQ FTDR opened at $74.87 on Tuesday. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 21.45 and a beta of 1.46. 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 Inc. has a 1-year low of $48.47 and a 1-year high of $80.73. The business has a 50-day moving average of $69.11 and a 200-day moving average of $63.11.

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