Harbor Capital Advisors Inc. Increases Stock Holdings in Frontdoor Inc. $FTDR

Harbor Capital Advisors Inc. lifted its stake in shares of Frontdoor Inc. (NASDAQ:FTDR) by 20.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,530 shares of the company’s stock after buying an additional 10,729 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.09% of Frontdoor worth $3,607,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Broad Bay Capital Management LP purchased a new position in shares of Frontdoor in the 2nd quarter valued at $46,886,000. Eventide Asset Management LLC purchased a new stake in Frontdoor in the second quarter valued at $28,506,000. Marshall Wace LLP acquired a new position in Frontdoor in the third quarter valued at $23,871,000. Cubist Systematic Strategies LLC boosted its stake in Frontdoor by 309.6% in the second quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company’s stock valued at $25,429,000 after acquiring an additional 326,112 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Frontdoor by 533.0% during the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock worth $11,814,000 after purchasing an additional 258,920 shares during the last quarter.

Frontdoor Stock Performance

Shares of FTDR stock opened at $54.58 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 4.73. The stock has a 50 day simple moving average of $59.37 and a 200-day simple moving average of $59.65. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 16.01 and a beta of 1.41. Frontdoor Inc. has a 12-month low of $35.61 and a 12-month high of $70.77.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data 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 firm had revenue of $433.00 million for 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 quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities analysts forecast that Frontdoor Inc. will post 3.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. The Goldman Sachs Group upgraded Frontdoor from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $67.00 in a research report on Monday, March 2nd. Weiss Ratings upgraded Frontdoor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 23rd. Truist Financial set a $71.00 price target on Frontdoor in a research report on Monday, January 26th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective on shares of Frontdoor in a research note on Thursday, February 26th. Finally, Benchmark initiated coverage on Frontdoor in a report on Thursday, March 26th. They issued a “buy” rating and a $80.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.60.

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.