Deutsche Bank AG Takes Position in Frontdoor Inc. $FTDR

Key Points

• Deutsche Bank acquired 87,964 Frontdoor shares in the second quarter, valued at approximately $6.8 million, while several other institutional investors also initiated positions.
• Analysts remain broadly positive, with five Buy ratings and three Holds; Frontdoor has a “Moderate Buy” consensus rating and an average price target of $92.60.
• Frontdoor exceeded quarterly expectations, reporting $1.93 in earnings per share versus the $1.76 consensus and $645 million in revenue, up 4.5% year over year.

Deutsche Bank AG purchased a new position in Frontdoor Inc. (NASDAQ:FTDR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 87,964 shares of the company's stock, valued at approximately $6,825,000. Deutsche Bank AG owned about 0.13% of Frontdoor at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Plato Investment Management Ltd bought a new stake in Frontdoor during the 2nd quarter valued at about $83,000. IMC Chicago LLC bought a new position in shares of Frontdoor in the second quarter worth approximately $583,000. Global Retirement Partners LLC purchased a new stake in shares of Frontdoor during the second quarter valued at approximately $83,000. Bank of New York Mellon Corp purchased a new stake in shares of Frontdoor during the second quarter valued at approximately $33,812,000. Finally, State of Wyoming bought a new stake in shares of Frontdoor during the second quarter valued at approximately $363,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FTDR. Oppenheimer boosted their price objective on shares of Frontdoor from $70.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Frontdoor in a research note on Tuesday, August 18th. Wolfe Research upgraded Frontdoor to an "outperform" rating in a research note on Monday. Truist Financial upped their price target on Frontdoor from $82.00 to $105.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. initiated coverage on Frontdoor in a research report on Monday. They set a "neutral" rating and a $95.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.60.

Frontdoor Trading Up 0.2%

Shares of FTDR stock opened at $82.75 on Tuesday. 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 Inc. has a 12-month low of $48.47 and a 12-month high of $93.43. The stock has a market capitalization of $5.70 billion, a P/E ratio of 21.95 and a beta of 1.47. The firm's 50 day moving average is $77.12 and its 200 day moving average is $66.67.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its 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 analyst estimates of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 EPS. Research analysts expect that Frontdoor Inc. will post 4.66 earnings per share 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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