IMC Chicago LLC Makes New $583,000 Investment in Frontdoor Inc. $FTDR

IMC Chicago LLC bought a new position in Frontdoor Inc. (NASDAQ:FTDR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,517 shares of the company’s stock, valued at approximately $583,000.

Several other large investors have also added to or reduced their stakes in the business. Private Trust Co. NA raised its stake in shares of Frontdoor by 256.3% in the fourth quarter. Private Trust Co. NA now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 405 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Frontdoor by 164.6% during the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after buying an additional 497 shares during the last quarter. Quarry LP boosted 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. Global Retirement Partners LLC grew its holdings in Frontdoor by 8,376.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock worth $64,000 after buying an additional 1,089 shares in the last quarter. Finally, Huntington National Bank grew its holdings in Frontdoor by 18.8% during the fourth quarter. Huntington National Bank now owns 1,723 shares of the company’s stock worth $99,000 after buying an additional 273 shares in the last quarter.

Frontdoor Stock Performance

Shares of FTDR stock opened at $86.47 on Monday. The company has a 50 day moving average of $75.25 and a 200-day moving average of $65.66. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.98. Frontdoor Inc. has a 12-month low of $48.47 and a 12-month high of $93.43. The firm has a market cap of $5.96 billion, a P/E ratio of 22.94 and a beta of 1.47.

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

Analyst Upgrades and Downgrades

FTDR has been the topic of a number of recent analyst reports. Benchmark raised their price target on shares of Frontdoor from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Truist Financial upped their price objective on shares of 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 reiterated a “neutral” rating on shares of Frontdoor in a research note on Friday, August 7th. Weiss Ratings cut shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 21st. Finally, Oppenheimer boosted their target price on Frontdoor from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.