Convergence Investment Partners LLC Acquires Shares of 14,921 Frontdoor Inc. $FTDR

Convergence Investment Partners LLC bought a new position in shares of Frontdoor Inc. (NASDAQ:FTDR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,921 shares of the company’s stock, valued at approximately $1,004,000.

Other hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans raised its holdings in shares of Frontdoor by 56.1% during the third quarter. Thrivent Financial for Lutherans now owns 114,667 shares of the company’s stock valued at $7,716,000 after acquiring an additional 41,196 shares during the last quarter. Arizona State Retirement System increased its position in shares of Frontdoor by 0.9% during the third quarter. Arizona State Retirement System now owns 21,758 shares of the company’s stock worth $1,464,000 after purchasing an additional 193 shares in the last quarter. Federated Hermes Inc. raised its stake in Frontdoor by 978.0% in the 3rd quarter. Federated Hermes Inc. now owns 154,980 shares of the company’s stock valued at $10,429,000 after purchasing an additional 140,604 shares during the last quarter. Truist Financial Corp lifted its holdings in Frontdoor by 11.1% in the 3rd quarter. Truist Financial Corp now owns 4,769 shares of the company’s stock valued at $321,000 after purchasing an additional 477 shares in the last quarter. Finally, One Wealth Advisors LLC purchased a new position in Frontdoor in the 3rd quarter valued at $210,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FTDR. Wall Street Zen lowered shares of Frontdoor from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Zacks Research downgraded shares of Frontdoor from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Truist Financial set a $71.00 target price on shares of Frontdoor in a research note on Monday, January 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.75.

Frontdoor Price Performance

FTDR stock opened at $58.39 on Tuesday. Frontdoor Inc. has a 52-week low of $35.61 and a 52-week high of $70.14. The business has a fifty day moving average of $57.19 and a two-hundred day moving average of $59.84. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 16.63 and a beta of 1.33. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 3.64.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. The firm had revenue of $618.00 million during the quarter, compared to the consensus estimate of $610.77 million. Frontdoor had a return on equity of 122.74% and a net margin of 12.87%.The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the company earned $1.38 EPS. As a group, research analysts anticipate that Frontdoor Inc. will post 3.07 earnings per share for the current 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.