16,737 Shares in Frontdoor Inc. $FTDR Bought by Summit Global Investments

Key Points

• Summit Global Investments acquired 16,737 shares of Frontdoor, valued at approximately $1.3 million, during the second quarter. Several other institutional investors also increased their holdings.
• Analysts remain broadly positive, with four Buy ratings and two Holds; the average price target is $92, while Benchmark, Oppenheimer, and Truist raised their targets to between $96 and $105.
• Frontdoor reported quarterly EPS of $1.93, beating estimates of $1.76, while revenue rose 4.5% year over year to $645 million. Shares opened at $86.47, near the company’s one-year high of $93.43.

Summit Global Investments acquired a new stake in Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,737 shares of the company's stock, valued at approximately $1,299,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FTDR. Private Trust Co. NA raised its stake in shares of Frontdoor by 256.3% during the 4th quarter. Private Trust Co. NA now owns 563 shares of the company's stock worth $32,000 after buying an additional 405 shares during the period. EverSource Wealth Advisors LLC grew its stake in Frontdoor by 164.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company's stock valued at $47,000 after acquiring an additional 497 shares during the period. Quarry LP increased its holdings in Frontdoor by 429.5% in the 3rd quarter. Quarry LP now owns 879 shares of the company's stock worth $59,000 after acquiring an additional 713 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Frontdoor by 8,376.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,102 shares of the company's stock worth $64,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Huntington National Bank raised its position in Frontdoor by 18.8% during the fourth quarter. Huntington National Bank now owns 1,723 shares of the company's stock worth $99,000 after acquiring an additional 273 shares during the period.

Wall Street Analyst Weigh In

FTDR has been the topic of several recent analyst reports. Benchmark increased their price objective on shares of Frontdoor from $80.00 to $96.00 and gave the company a "buy" rating in a report on Friday, August 7th. Oppenheimer boosted their target price on shares of Frontdoor from $70.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. 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 research report on Friday, August 7th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Frontdoor in a research note on Friday, August 7th. Finally, Weiss Ratings cut Frontdoor from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 21st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Frontdoor currently has an average rating of "Moderate Buy" and an average target price of $92.00.

Frontdoor Stock Up 2.1%

NASDAQ FTDR opened at $86.47 on Friday. The business has a fifty day moving average price of $75.25 and a 200 day moving average price of $65.62. 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 cap of $5.96 billion, a P/E ratio of 22.94 and a beta of 1.47.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.17. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The company had revenue of $645.00 million for the quarter, compared to analyst estimates of $643.40 million. During the same quarter last year, the firm posted $1.63 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts anticipate that Frontdoor Inc. will post 4.66 EPS for the current fiscal year.

About Frontdoor

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.

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