JPMorgan Chase & Co. Raises Stake in Frontdoor Inc. $FTDR

JPMorgan Chase & Co. raised its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR) by 26.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,385 shares of the company’s stock after acquiring an additional 47,587 shares during the period. JPMorgan Chase & Co.’s holdings in Frontdoor were worth $15,166,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Broad Bay Capital Management LP purchased a new stake in shares of Frontdoor in the 2nd quarter valued at $46,886,000. Fiera Capital Corp grew its stake in shares of Frontdoor by 2.1% during the second quarter. Fiera Capital Corp now owns 744,718 shares of the company’s stock valued at $43,894,000 after buying an additional 15,295 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Frontdoor by 4.7% in the second quarter. Bank of America Corp DE now owns 699,289 shares of the company’s stock worth $41,216,000 after buying an additional 31,087 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Frontdoor by 18.4% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 627,791 shares of the company’s stock valued at $42,244,000 after acquiring an additional 97,565 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Frontdoor by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 530,518 shares of the company’s stock valued at $31,269,000 after acquiring an additional 4,265 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FTDR. Weiss Ratings restated a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Truist Financial set a $71.00 target price on shares of Frontdoor in a report on Monday, January 26th. Wall Street Zen raised shares of Frontdoor from a “hold” rating to a “buy” rating in a research note on Saturday. Oppenheimer reissued an “outperform” rating and set a $70.00 price target on shares of Frontdoor in a research report on Thursday, February 26th. Finally, The Goldman Sachs Group upgraded shares of Frontdoor from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $50.00 to $67.00 in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Frontdoor presently has a consensus rating of “Hold” and an average price target of $65.75.

Frontdoor Price Performance

Frontdoor stock opened at $69.11 on Wednesday. Frontdoor Inc. has a 52-week low of $35.61 and a 52-week high of $70.77. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 20.27 and a beta of 1.31. The firm’s fifty day moving average is $58.92 and its 200 day moving average is $59.96. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 4.73.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Thursday, February 26th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.12. The firm had revenue of $433.00 million for the quarter, compared to analysts’ expectations of $421.62 million. Frontdoor had a net margin of 12.18% and a return on equity of 120.79%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. Sell-side analysts forecast that Frontdoor Inc. will post 3.07 EPS for the current fiscal year.

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.