20,499 Shares in Frontdoor Inc. $FTDR Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems acquired 20,499 Frontdoor shares worth approximately $1.59 million in the second quarter, while several other institutional investors also initiated or increased positions.
• Frontdoor shares rose 1.8% to $81.01, while the company reported quarterly EPS of $1.93, exceeding estimates of $1.76; revenue increased 4.5% year over year to $645 million.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $92.60; Truist Financial recently raised its target to $105 and Benchmark to $96.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,499 shares of the company's stock, valued at approximately $1,591,000.

Other institutional investors have also modified their holdings of the company. Keating Financial Advisory Services Inc. purchased a new stake in Frontdoor during the 2nd quarter valued at $25,000. Public Employees Retirement System of Ohio bought a new position in Frontdoor during the second quarter valued at $58,000. EverSource Wealth Advisors LLC raised its stake in shares of Frontdoor by 164.6% in the second 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 lifted its holdings in shares of 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 during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of Frontdoor during the 2nd quarter worth about $83,000.

Frontdoor Stock Up 1.8%

Shares of NASDAQ:FTDR opened at $81.01 on Friday. The business's 50 day moving average is $79.24 and its 200 day moving average is $69.05. The stock has a market cap of $5.58 billion, a P/E ratio of 21.49 and a beta of 1.50. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week high of $93.43. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.98.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its earnings results 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 business had revenue of $645.00 million during the quarter, compared to analyst estimates of $643.40 million. During the same period in the previous year, the company posted $1.63 EPS. Frontdoor's revenue was up 4.5% on a year-over-year basis. Sell-side analysts predict that Frontdoor Inc. will post 4.67 EPS for the current year.

Analyst Ratings Changes

FTDR has been the topic of a number of recent analyst reports. Wolfe Research raised shares of Frontdoor to an "outperform" rating in a research report on Monday, August 24th. Benchmark increased their price target on Frontdoor from $80.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, August 7th. The Goldman Sachs Group restated a "neutral" rating on shares of Frontdoor in a report on Friday, August 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Frontdoor in a research report on Tuesday, August 18th. Finally, Truist Financial lifted their target price on Frontdoor from $82.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Frontdoor has a consensus rating of "Moderate Buy" and an average price target of $92.60.

Frontdoor Profile

Frontdoor, Inc is a provider of home warranties and home service plans in the United States. The company helps homeowners manage the cost and convenience of repairing or replacing covered household systems and appliances, including heating and cooling equipment, plumbing, electrical systems and kitchen appliances.

Frontdoor operates through well-known brands that include American Home Shield, HSA Home Warranty and 2-10 Home Buyers Warranty. Its offerings are sold directly to consumers and through real estate professionals, builders and other business partners, with plans and services designed for homeowners, home sellers and home buyers.

Frontdoor became an independent public company in 2018 after separating from ServiceMaster, now known as Terminix.

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