Amundi Increases Stock Position in Frontdoor Inc. $FTDR

Key Points

• Amundi increased its Frontdoor stake by 331.8% in the second quarter, acquiring 76,942 additional shares to own 100,134 shares valued at approximately $7.8 million.
• Wall Street sentiment is favorable, with a consensus rating of “Moderate Buy” and an average price target of $92.60; Truist, Oppenheimer and Benchmark recently raised their targets.
• Frontdoor reported quarterly EPS of $1.93, beating estimates of $1.76, while revenue reached $645 million, up 4.5% year over year. The stock opened at $81.01, near its 52-week high of $93.43.

Amundi raised its position in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 331.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,134 shares of the company's stock after acquiring an additional 76,942 shares during the period. Amundi owned approximately 0.15% of Frontdoor worth $7,769,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Keating Financial Advisory Services Inc. acquired a new stake in shares of Frontdoor in the second quarter worth $25,000. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 497 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Frontdoor during the second quarter worth about $58,000. Quarry LP boosted its position in shares of 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 period. Finally, Global Retirement Partners LLC grew its stake in shares of Frontdoor by 8,376.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company's stock valued at $64,000 after buying an additional 1,089 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Frontdoor in a research report on Tuesday, August 18th. Truist Financial lifted their price objective on shares of Frontdoor from $82.00 to $105.00 and gave the company a "buy" rating in a research note 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 report on Friday, August 7th. JPMorgan Chase & Co. assumed coverage on shares of Frontdoor in a research report on Monday, August 24th. They set a "neutral" rating and a $95.00 target price on the stock. Finally, Benchmark upped their target price on shares of Frontdoor from $80.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.60.

Frontdoor Stock Up 1.8%

FTDR stock opened at $81.01 on Friday. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 21.49 and a beta of 1.50. Frontdoor Inc. has a 1-year low of $48.47 and a 1-year high of $93.43. The firm has a fifty day moving average price of $79.24 and a two-hundred day moving average price of $69.05. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.59 and a quick ratio of 1.59.

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. The business 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 quarter in the prior year, the firm earned $1.63 EPS. Research analysts predict that Frontdoor Inc. will post 4.67 EPS for the current year.

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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