VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Frontdoor Inc. $FTDR

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,499 shares of the company’s stock, valued at approximately $1,591,000.

Other large investors have also recently made changes to their positions in the company. Keating Financial Advisory Services Inc. purchased a new stake in shares of Frontdoor during the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings in Frontdoor by 164.6% in the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after purchasing an additional 497 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Frontdoor during the second quarter valued at about $58,000. Quarry LP lifted its position in shares of Frontdoor by 429.5% during the third quarter. Quarry LP now owns 879 shares of the company’s stock valued at $59,000 after buying an additional 713 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Frontdoor by 8,376.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock valued at $64,000 after buying an additional 1,089 shares in the last quarter.

Frontdoor Price Performance

Shares of NASDAQ FTDR opened at $81.01 on Friday. Frontdoor Inc. has a fifty-two week low of $48.47 and a fifty-two week high of $93.43. The company has a market cap of $5.58 billion, a PE ratio of 21.49 and a beta of 1.50. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.59 and a current ratio of 1.59. The business has a 50-day simple moving average of $79.24 and a two-hundred day simple moving average of $69.05.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.76 by $0.17. The firm had revenue of $645.00 million during the quarter, compared to analyst estimates of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. Frontdoor’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. As a group, equities analysts expect that Frontdoor Inc. will post 4.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FTDR has been the topic of a number of analyst reports. Benchmark lifted their price objective on shares of Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on shares of Frontdoor in a research report on Monday, August 24th. They set a “neutral” rating and a $95.00 target price for the company. Truist Financial raised their target price on shares of Frontdoor from $82.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Oppenheimer lifted their price target on shares of Frontdoor from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Wolfe Research raised Frontdoor to an “outperform” rating in a research report on Monday, August 24th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Frontdoor presently has a consensus rating of “Moderate Buy” and an average price target of $92.60.

About Frontdoor

Frontdoor, Inc is a provider of home warranties and home service plans in the United States. The company helps homeowners manage the cost and convenience of repairing or replacing covered household systems and appliances, including heating and cooling equipment, plumbing, electrical systems and kitchen appliances.

Frontdoor operates through well-known brands that include American Home Shield, HSA Home Warranty and 2-10 Home Buyers Warranty. Its offerings are sold directly to consumers and through real estate professionals, builders and other business partners, with plans and services designed for homeowners, home sellers and home buyers.

Frontdoor became an independent public company in 2018 after separating from ServiceMaster, now known as Terminix.