State of Alaska Department of Revenue Sells 11,793 Shares of Frontdoor Inc. $FTDR

State of Alaska Department of Revenue lowered its position in Frontdoor Inc. (NASDAQ:FTDR) by 43.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,347 shares of the company’s stock after selling 11,793 shares during the quarter. State of Alaska Department of Revenue’s holdings in Frontdoor were worth $1,122,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FTDR. BlackRock Inc. bought a new stake in Frontdoor during the second quarter valued at $859,552,000. Reinhart Partners LLC. grew its position in Frontdoor by 4.0% during the second quarter. Reinhart Partners LLC. now owns 1,684,065 shares of the company’s stock worth $130,668,000 after buying an additional 64,561 shares in the last quarter. Jupiter Topco LLC purchased a new position in Frontdoor during the second quarter worth about $113,873,000. Renaissance Technologies LLC increased its stake in Frontdoor by 1.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,849,787 shares of the company’s stock worth $97,780,000 after acquiring an additional 23,800 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Frontdoor by 0.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,461,003 shares of the company’s stock worth $77,229,000 after acquiring an additional 7,145 shares during the last quarter.

Frontdoor Stock Performance

NASDAQ FTDR opened at $80.48 on Wednesday. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week high of $93.43. 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 company has a market capitalization of $5.54 billion, a P/E ratio of 21.35 and a beta of 1.53. The company has a fifty day moving average of $79.76 and a 200-day moving average of $72.22.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Thursday, August 6th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.17. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%. The business had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $643.40 million. During the same quarter in the prior year, the firm earned $1.63 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Frontdoor Inc. will post 4.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FTDR shares. The Goldman Sachs Group lowered their price target on Frontdoor from $91.00 to $81.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Wolfe Research raised Frontdoor to an “outperform” rating in a report on Monday, August 24th. Oppenheimer boosted their price objective on Frontdoor from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. JPMorgan Chase & Co. began coverage on shares of Frontdoor in a research report on Monday, August 24th. They issued a “neutral” rating and a $95.00 price objective on the stock. Finally, 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. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.40.

Frontdoor Company Profile

Frontdoor, Inc (NASDAQ: FTDR) is a provider of home warranties and related home repair services. The company helps homeowners manage the cost and complexity of maintaining household systems and appliances, including heating and cooling equipment, plumbing, electrical systems, water heaters and major kitchen appliances.

Frontdoor operates primarily through its American Home Shield brand, which offers home service plans and access to a network of professional contractors. The company also provides digital tools and services designed to help homeowners diagnose household problems, request service and connect with qualified professionals.