600,341 Shares in Frontdoor Inc. $FTDR Acquired by Bank of America Corp DE

Bank of America Corp DE acquired a new position in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 600,341 shares of the company's stock, valued at approximately $46,580,000. Bank of America Corp DE owned about 0.87% of Frontdoor as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming boosted its holdings in Frontdoor by 2.5% in the first quarter. State of Wyoming now owns 7,140 shares of the company's stock valued at $377,000 after acquiring an additional 177 shares during the last quarter. Handelsbanken Fonder AB increased its position in Frontdoor by 0.8% in the second quarter. Handelsbanken Fonder AB now owns 25,900 shares of the company's stock worth $2,010,000 after purchasing an additional 200 shares during the period. ProShare Advisors LLC raised its holdings in Frontdoor by 1.7% during the 4th quarter. ProShare Advisors LLC now owns 14,232 shares of the company's stock worth $821,000 after purchasing an additional 236 shares during the last quarter. Huntington National Bank raised its holdings in 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. Finally, Evolve Private Wealth LLC lifted its position in Frontdoor by 2.8% during the 1st quarter. Evolve Private Wealth LLC now owns 11,312 shares of the company's stock valued at $598,000 after purchasing an additional 312 shares during the period.

Frontdoor Trading Up 1.8%

NASDAQ FTDR opened at $79.73 on Tuesday. 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 current ratio of 1.59 and a quick ratio of 1.59. The firm has a market cap of $5.49 billion, a P/E ratio of 21.15 and a beta of 1.50. The stock's 50-day moving average is $79.67 and its 200-day moving average is $69.82.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly 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 net margin of 12.72% and a return on equity of 120.90%. The firm had revenue of $645.00 million for the quarter, compared to analyst estimates of $643.40 million. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The business's revenue was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Frontdoor Inc. will post 4.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FTDR. Benchmark boosted their price target on shares of Frontdoor from $80.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Oppenheimer raised 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Frontdoor in a report on Tuesday, August 18th. Wolfe Research upgraded shares of Frontdoor to an "outperform" rating in a research report on Monday, August 24th. Finally, Truist Financial increased their price target on Frontdoor from $82.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Frontdoor has a consensus rating of "Moderate Buy" and a consensus target price of $92.60.

Frontdoor Company 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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