Ancora Advisors LLC Has $9.53 Million Stock Position in Frontdoor Inc. $FTDR

Key Points

• Ancora Advisors increased its Frontdoor stake by 32.4% in the second quarter, purchasing 30,090 additional shares and bringing its holdings to 122,875 shares valued at approximately $9.53 million.
• Analyst sentiment remains positive, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $92.60. Truist and Benchmark recently raised their targets, while JPMorgan initiated coverage with a Neutral rating.
• Frontdoor reported quarterly EPS of $1.93, exceeding estimates of $1.76, while revenue rose 4.5% year over year to $645 million. The stock opened at $79.51 and has traded between $48.47 and $93.43 over the past 52 weeks.

Ancora Advisors LLC boosted its stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 32.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,875 shares of the company's stock after buying an additional 30,090 shares during the quarter. Ancora Advisors LLC owned approximately 0.18% of Frontdoor worth $9,534,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FTDR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Frontdoor by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company's stock worth $1,761,000 after acquiring an additional 1,994 shares during the last quarter. Millennium Management LLC boosted its holdings in Frontdoor by 533.0% in the first quarter. Millennium Management LLC now owns 307,497 shares of the company's stock valued at $11,814,000 after acquiring an additional 258,920 shares during the last quarter. Empowered Funds LLC boosted its holdings in Frontdoor by 10.5% in the first quarter. Empowered Funds LLC now owns 11,008 shares of the company's stock valued at $423,000 after acquiring an additional 1,044 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Frontdoor by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company's stock valued at $9,126,000 after purchasing an additional 13,134 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in 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 purchasing an additional 497 shares during the period.

Analyst Ratings Changes

FTDR has been the topic of a number of recent analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of Frontdoor in a research report on Tuesday, August 18th. Truist Financial increased their price objective 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. JPMorgan Chase & Co. assumed coverage on shares of Frontdoor in a research note on Monday, August 24th. They set a "neutral" rating and a $95.00 target price for the company. Wolfe Research upgraded shares of Frontdoor to an "outperform" rating in a report on Monday, August 24th. Finally, Benchmark upped their price target on shares of Frontdoor from $80.00 to $96.00 and gave the company 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 assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $92.60.

Frontdoor Stock Performance

Shares of FTDR stock opened at $79.51 on Wednesday. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 21.09 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. The firm has a 50 day moving average of $78.44 and a 200-day moving average of $67.75.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $645.00 million for the quarter, compared to analysts' expectations of $643.40 million. During the same quarter in the prior year, the firm earned $1.63 EPS. The business's revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Frontdoor Inc. will post 4.67 earnings per share for the current 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.

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