Globeflex Capital L P Buys New Shares in Frontdoor Inc. $FTDR

Globeflex Capital L P bought a new position in shares of Frontdoor Inc. (NASDAQ:FTDR) during the second quarter, HoldingsChannel reports. The firm bought 91,610 shares of the company’s stock, valued at approximately $7,108,000. Frontdoor makes up approximately 0.9% of Globeflex Capital L P’s investment portfolio, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FTDR. BlackRock Inc. acquired a new position in Frontdoor in the 2nd quarter valued at approximately $859,552,000. Boston Partners grew its holdings in shares of Frontdoor by 8.5% during the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock worth $333,742,000 after purchasing an additional 454,040 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Frontdoor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 1,887,029 shares of the company’s stock valued at $108,879,000 after purchasing an additional 27,237 shares during the period. Renaissance Technologies LLC increased its position in shares of Frontdoor by 1.3% during the first quarter. Renaissance Technologies LLC now owns 1,849,787 shares of the company’s stock valued at $97,780,000 after purchasing an additional 23,800 shares during the period. Finally, Reinhart Partners LLC. increased its position in shares of Frontdoor by 4.0% during the second quarter. Reinhart Partners LLC. now owns 1,684,065 shares of the company’s stock valued at $130,668,000 after purchasing an additional 64,561 shares during the period.

Frontdoor Stock Performance

FTDR stock opened at $82.59 on Monday. Frontdoor Inc. has a 1-year low of $48.47 and a 1-year high of $93.43. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 3.98. The business’s 50 day moving average is $76.86 and its 200-day moving average is $66.49. The firm has a market cap of $5.69 billion, a P/E ratio of 21.91 and a beta of 1.47.

Frontdoor (NASDAQ:FTDR) last posted its earnings results on Thursday, August 6th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.76 by $0.17. The business had revenue of $645.00 million during the quarter, compared to the consensus estimate of $643.40 million. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.Frontdoor’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $1.63 EPS. Equities analysts anticipate that Frontdoor Inc. will post 4.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on FTDR shares. Truist Financial raised their target price on Frontdoor from $82.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. The Goldman Sachs Group reissued a “neutral” rating on shares of Frontdoor in a report on Friday, August 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Frontdoor in a research note on Tuesday, August 18th. Benchmark raised their price objective on shares of Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Oppenheimer raised their price objective on shares of Frontdoor from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

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.