24,058 Shares in Frontdoor Inc. $FTDR Acquired by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 24,058 Frontdoor shares during the second quarter, valued at approximately $1.87 million. Several other institutional investors also increased their positions.
• Analysts maintain a positive outlook, with Frontdoor receiving a consensus “Moderate Buy” rating and an average price target of $92.00; several firms recently raised their targets to between $96 and $105.
• Frontdoor exceeded quarterly expectations, reporting adjusted EPS of $1.93 versus a $1.76 estimate and revenue of $645 million. Revenue rose 4.5% year over year, while shares recently traded at $82.59.

B. Metzler seel. Sohn & Co. AG purchased a new position in Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 24,058 shares of the company's stock, valued at approximately $1,867,000.

Several other institutional investors also recently modified their holdings of FTDR. EverSource Wealth Advisors LLC grew its holdings in shares of Frontdoor by 164.6% during 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 in the last quarter. Quarry LP increased its holdings in Frontdoor by 429.5% in the third quarter. Quarry LP now owns 879 shares of the company's stock worth $59,000 after buying an additional 713 shares during the last quarter. Global Retirement Partners LLC grew its position in Frontdoor by 8,376.9% in the fourth 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. Plato Investment Management Ltd acquired a new position in shares of Frontdoor during the 2nd quarter worth $83,000. Finally, Huntington National Bank increased its stake in shares of Frontdoor by 18.8% during the 4th quarter. Huntington National Bank now owns 1,723 shares of the company's stock worth $99,000 after purchasing an additional 273 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FTDR shares. Benchmark lifted their price objective on Frontdoor from $80.00 to $96.00 and gave the company a "buy" rating in a report on Friday, August 7th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Frontdoor in a research report on Friday, August 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Frontdoor in a research note on Tuesday. Oppenheimer lifted their price objective on shares of Frontdoor from $70.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Finally, Truist Financial boosted their price objective on shares of Frontdoor from $82.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.00.

Frontdoor Trading Up 0.8%

Shares of Frontdoor stock opened at $82.59 on Friday. The firm's 50 day moving average is $76.86 and its 200 day moving average is $66.44. The firm has a market capitalization of $5.69 billion, a PE ratio of 21.91 and a beta of 1.47. Frontdoor Inc. has a 1 year low of $48.47 and a 1 year high of $93.43. 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 announced its quarterly earnings results on Thursday, August 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.17. The company had revenue of $645.00 million during the quarter, compared to the consensus estimate of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 earnings per share. Equities research analysts forecast that Frontdoor Inc. will post 4.66 earnings per share for the current fiscal year.

Frontdoor Company 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source