Danske Bank A S Invests $28.74 Million in Frontdoor Inc. $FTDR

Key Points

• Danske Bank A/S acquired 370,440 Frontdoor shares during the second quarter, valued at approximately $28.74 million and representing about 0.53% of the company.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $92. Benchmark, Truist Financial, and Oppenheimer recently raised their targets.
• Frontdoor exceeded quarterly expectations, reporting $1.93 in earnings per share versus the $1.76 estimate and $645 million in revenue. Revenue increased 4.5% year over year, while the stock opened at $82.28, below its 52-week high of $93.43.

Danske Bank A S acquired a new position in Frontdoor Inc. (NASDAQ:FTDR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 370,440 shares of the company's stock, valued at approximately $28,742,000. Danske Bank A S owned approximately 0.53% of Frontdoor as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. State of Wyoming grew its position 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 in the last quarter. Handelsbanken Fonder AB increased its holdings in Frontdoor by 0.8% during the 2nd 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 last quarter. ProShare Advisors LLC raised its position in shares of Frontdoor by 1.7% in the 4th quarter. ProShare Advisors LLC now owns 14,232 shares of the company's stock valued at $821,000 after purchasing an additional 236 shares in the last quarter. Snowden Capital Advisors LLC raised its position in shares of Frontdoor by 4.1% in the 2nd quarter. Snowden Capital Advisors LLC now owns 6,407 shares of the company's stock valued at $378,000 after purchasing an additional 250 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Frontdoor by 5.0% during the 4th quarter. Bank of Montreal Can now owns 5,296 shares of the company's stock valued at $306,000 after buying an additional 254 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FTDR shares. Benchmark raised their price target on shares of Frontdoor from $80.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Weiss Ratings cut shares of Frontdoor from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 21st. The Goldman Sachs Group reiterated a "neutral" rating on shares of Frontdoor in a research note on Friday, August 7th. Truist Financial raised their price objective on shares of Frontdoor from $82.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Frontdoor Trading Down 0.8%

NASDAQ:FTDR opened at $82.28 on Thursday. The company has a market cap of $5.67 billion, a PE ratio of 21.82 and a beta of 1.47. The business's 50 day moving average is $76.29 and its two-hundred day moving average is $66.16. 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 Inc. has a 52 week low of $48.47 and a 52 week high of $93.43.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued 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. The business had revenue of $645.00 million during the quarter, compared to the consensus estimate of $643.40 million. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 EPS. On average, analysts predict that Frontdoor Inc. will post 4.66 EPS for the current year.

About Frontdoor

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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