Norges Bank Makes New Investment in Frontdoor Inc. $FTDR

Norges Bank bought a new position in shares of Frontdoor Inc. (NASDAQ:FTDR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 85,315 shares of the company’s stock, valued at approximately $5,028,000. Norges Bank owned approximately 0.12% of Frontdoor as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in Frontdoor during the 2nd quarter worth approximately $451,000. Capital Fund Management S.A. boosted its holdings in shares of Frontdoor by 274.9% in the second quarter. Capital Fund Management S.A. now owns 84,723 shares of the company’s stock valued at $4,994,000 after acquiring an additional 62,122 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Frontdoor by 30.7% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 20,645 shares of the company’s stock worth $1,217,000 after acquiring an additional 4,853 shares during the last quarter. Aristides Capital LLC acquired a new position in shares of Frontdoor in the 2nd quarter valued at $266,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Frontdoor in the 2nd quarter valued at $72,000.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Frontdoor in a research note on Monday. Zacks Research cut Frontdoor from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Wall Street Zen downgraded Frontdoor from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.75.

Frontdoor Stock Performance

NASDAQ FTDR opened at $53.26 on Wednesday. The company has a market capitalization of $3.84 billion, a PE ratio of 15.17 and a beta of 1.32. The business’s 50-day moving average price is $59.33 and its 200 day moving average price is $59.62. Frontdoor Inc. has a twelve month low of $35.61 and a twelve month high of $70.14. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 3.64.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Wednesday, November 5th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.49 by $0.09. Frontdoor had a return on equity of 122.74% and a net margin of 12.87%.The business had revenue of $618.00 million for the quarter, compared to the consensus estimate of $610.77 million. During the same period last year, the business posted $1.38 EPS. The company’s revenue was up 14.4% on a year-over-year basis. On average, research analysts predict that Frontdoor Inc. will post 3.07 earnings per share for the current year.

Frontdoor Company Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company’s home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.