361,456 Shares in Frontdoor Inc. $FTDR Purchased by Empowered Funds LLC

Empowered Funds LLC bought a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 361,456 shares of the company’s stock, valued at approximately $28,045,000.

A number of other large investors also recently added to or reduced their stakes in FTDR. United Capital Financial Advisors LLC bought a new position in Frontdoor in the 2nd quarter worth approximately $836,000. Public Employees Retirement System of Ohio bought a new stake in shares of Frontdoor during the second quarter valued at approximately $58,000. Corient Private Wealth LP purchased a new position in shares of Frontdoor in the second quarter worth $413,000. Bank of America Corp DE bought a new position in shares of Frontdoor during the second quarter worth $46,580,000. Finally, Freestone Grove Partners LP bought a new position in shares of Frontdoor during the second quarter worth $188,000.

Frontdoor Stock Down 1.0%

NASDAQ FTDR opened at $82.82 on Friday. The stock has a 50 day moving average price of $77.91 and a 200-day moving average price of $67.22. Frontdoor Inc. has a one year low of $48.47 and a one year 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 $5.71 billion, a P/E ratio of 21.97 and a beta of 1.47.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Frontdoor from $82.00 to $105.00 and gave the company a “buy” rating in a report on Friday, August 7th. Oppenheimer increased their price objective on shares of Frontdoor from $70.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on Frontdoor in a research report on Monday. They set a “neutral” rating and a $95.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Frontdoor in a report on Tuesday, August 18th. Finally, Wolfe Research upgraded Frontdoor to an “outperform” rating in a research report on Monday. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.60.

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.