Paralel Advisors LLC Purchases Shares of 43,744 Frontdoor Inc. $FTDR

Paralel Advisors LLC acquired a new position in shares of Frontdoor Inc. (NASDAQ:FTDR) in the 2nd quarter, HoldingsChannel reports. The fund acquired 43,744 shares of the company’s stock, valued at approximately $3,394,000.

Several other large investors also recently made changes to their positions in the business. Private Trust Co. NA raised its stake in shares of Frontdoor by 256.3% in the 4th quarter. Private Trust Co. NA now owns 563 shares of the company’s stock valued at $32,000 after acquiring an additional 405 shares during the period. EverSource Wealth Advisors LLC boosted its position in Frontdoor by 164.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after purchasing an additional 497 shares during the period. Quarry LP boosted its position in Frontdoor by 429.5% during the 3rd quarter. Quarry LP now owns 879 shares of the company’s stock worth $59,000 after purchasing an additional 713 shares during the period. Global Retirement Partners LLC acquired a new stake in Frontdoor in the 2nd quarter valued at $83,000. Finally, Plato Investment Management Ltd acquired a new stake in Frontdoor in the 2nd quarter valued at $83,000.

Frontdoor Stock Performance

Shares of FTDR stock opened at $81.94 on Friday. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.59 and a quick ratio of 1.59. The company’s fifty day moving average price is $76.58 and its two-hundred day moving average price is $66.32. The firm has a market capitalization of $5.65 billion, a P/E ratio of 21.73 and a beta of 1.47. Frontdoor Inc. has a 12 month low of $48.47 and a 12 month high of $93.43.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Thursday, August 6th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.17. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The company had revenue of $645.00 million during the quarter, compared to the consensus estimate of $643.40 million. During the same period last year, the firm earned $1.63 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Frontdoor Inc. will post 4.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FTDR has been the topic of several research reports. Oppenheimer raised their price objective on Frontdoor from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Frontdoor in a research report on Tuesday. The Goldman Sachs Group reiterated a “neutral” rating on shares of Frontdoor in a research note on Friday, August 7th. Truist Financial boosted their price target on Frontdoor from $82.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Benchmark upped their price target on Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Frontdoor presently has an average rating of “Moderate Buy” and a consensus price target 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.