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

IMC Chicago LLC bought a new stake in Frontdoor Inc. (NASDAQ:FTDR) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,517 shares of the company’s stock, valued at approximately $583,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Frontdoor during the second quarter worth about $859,552,000. Jupiter Topco LLC bought a new stake in Frontdoor in the 2nd quarter valued at about $113,873,000. Bank of America Corp DE bought a new stake in Frontdoor in the 2nd quarter valued at about $46,580,000. Boston Partners boosted its stake in Frontdoor by 8.5% during the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock valued at $333,742,000 after purchasing an additional 454,040 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Frontdoor during the 2nd quarter valued at about $33,812,000.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FTDR shares. 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 note on Friday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Frontdoor in a research report on Friday, August 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Frontdoor in a report on Tuesday, August 18th. Oppenheimer raised their target price on Frontdoor from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, Wolfe Research raised Frontdoor to an “outperform” rating in a research note on Monday, August 24th. Five 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 has an average rating of “Moderate Buy” and a consensus price target of $92.60.

Frontdoor Stock Up 0.1%

FTDR stock opened at $82.89 on Friday. Frontdoor Inc. has a 52 week low of $48.47 and a 52 week high of $93.43. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 21.99 and a beta of 1.47. The firm’s 50-day moving average is $78.14 and its two-hundred day moving average is $67.33. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 3.98.

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

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.