122,875 Shares in Frontdoor Inc. $FTDR Bought by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC acquired 122,875 Frontdoor shares during the second quarter, valued at approximately $9.5 million and representing about 0.18% of the company.
• Frontdoor reported quarterly EPS of $1.93, exceeding estimates of $1.76, while revenue rose 4.5% year over year to $645 million.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $92.60; shares recently traded at $83.53.

Ancora Advisors LLC purchased a new position in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 122,875 shares of the company's stock, valued at approximately $9,534,000. Ancora Advisors LLC owned approximately 0.18% of Frontdoor as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Swedbank AB raised its position in shares of Frontdoor by 6.0% in the fourth quarter. Swedbank AB now owns 1,283,600 shares of the company's stock valued at $74,051,000 after purchasing an additional 73,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Frontdoor during the first quarter worth approximately $1,793,000. California State Teachers Retirement System raised its stake in Frontdoor by 20.2% in the first quarter. California State Teachers Retirement System now owns 82,866 shares of the company's stock valued at $4,380,000 after purchasing an additional 13,941 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Frontdoor during the 2nd quarter worth approximately $859,552,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Frontdoor by 38.2% in the 1st quarter. Bessemer Group Inc. now owns 110,559 shares of the company's stock valued at $5,844,000 after purchasing an additional 30,576 shares in the last quarter.

Frontdoor Trading Up 0.9%

Shares of Frontdoor stock opened at $83.53 on Wednesday. The stock has a fifty day simple moving average of $77.39 and a 200 day simple moving average of $66.85. Frontdoor Inc. has a 12-month low of $48.47 and a 12-month high of $93.43. The company has a market capitalization of $5.75 billion, a P/E ratio of 22.16 and a beta of 1.47. 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 - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $645.00 million for the quarter, compared to analysts' expectations of $643.40 million. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The business's revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $1.63 EPS. On average, sell-side analysts anticipate that Frontdoor Inc. will post 4.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FTDR has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Frontdoor from $82.00 to $105.00 and gave the stock 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 stock an "outperform" rating in a research report on Friday, August 7th. Benchmark boosted their price target on Frontdoor from $80.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Wolfe Research raised shares of Frontdoor to an "outperform" rating in a research report on Monday. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of Frontdoor in a research note on Friday, August 7th. 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, the company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.