Frontdoor Inc. $FTDR Shares Acquired by Permit Capital LLC

Permit Capital LLC increased its holdings in Frontdoor Inc. (NASDAQ:FTDR) by 27.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 197,600 shares of the company’s stock after buying an additional 42,000 shares during the period. Frontdoor comprises approximately 3.5% of Permit Capital LLC’s holdings, making the stock its 8th biggest position. Permit Capital LLC’s holdings in Frontdoor were worth $11,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Fiera Capital Corp boosted its holdings in shares of Frontdoor by 30.6% in the 4th quarter. Fiera Capital Corp now owns 950,702 shares of the company’s stock valued at $54,846,000 after buying an additional 222,633 shares during the period. State of Wyoming boosted its holdings in shares of Frontdoor by 57.0% in the 4th quarter. State of Wyoming now owns 6,963 shares of the company’s stock valued at $402,000 after buying an additional 2,528 shares during the period. Reinhart Partners LLC. boosted its holdings in shares of Frontdoor by 25.6% in the 4th quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company’s stock valued at $93,987,000 after buying an additional 332,556 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Frontdoor by 25.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 590,749 shares of the company’s stock valued at $34,080,000 after buying an additional 120,523 shares during the period. Finally, Norges Bank acquired a new position in shares of Frontdoor in the 4th quarter valued at about $1,104,000.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Frontdoor from a “sell” rating to a “neutral” rating and lifted their price target for the company from $50.00 to $67.00 in a report on Monday, March 2nd. Benchmark assumed coverage on shares of Frontdoor in a report on Thursday, March 26th. They issued a “buy” rating and a $80.00 price target for the company. Wall Street Zen lowered shares of Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings lowered shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. Finally, Oppenheimer reissued an “outperform” rating and set a $70.00 target price on shares of Frontdoor in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Frontdoor Stock Performance

Frontdoor stock opened at $63.64 on Monday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 4.95. The firm has a 50-day moving average price of $60.61 and a two-hundred day moving average price of $59.01. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 18.23 and a beta of 1.50. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week high of $70.77.

Frontdoor (NASDAQ:FTDR) last posted its earnings results on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The firm had revenue of $451.00 million during the quarter, compared to analyst estimates of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. Frontdoor’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. Sell-side analysts expect that Frontdoor Inc. will post 4.48 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.