Dimensional Fund Advisors LP Buys 31,259 Shares of Frontdoor Inc. $FTDR

Key Points

• Dimensional Fund Advisors increased its Frontdoor stake by 2.7% in the first quarter, acquiring 31,259 additional shares. It now owns 1.18 million shares, valued at approximately $62.3 million, or 1.68% of the company.
• Analysts maintain a generally positive outlook, with Frontdoor receiving a consensus rating of “Moderate Buy” and an average price target of $74.75; Truist Financial set a target of $82.
• Frontdoor’s latest quarterly results exceeded expectations: adjusted earnings were $0.73 per share versus the $0.66 consensus, while revenue rose 5.9% year over year to $451 million.

Dimensional Fund Advisors LP raised its stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,179,376 shares of the company's stock after acquiring an additional 31,259 shares during the period. Dimensional Fund Advisors LP owned about 1.68% of Frontdoor worth $62,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FTDR. Private Trust Co. NA boosted its stake in shares of Frontdoor by 256.3% in the 4th quarter. Private Trust Co. NA now owns 563 shares of the company's stock worth $32,000 after buying an additional 405 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Frontdoor by 164.6% in 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. Quarry LP boosted its holdings in shares of Frontdoor by 429.5% in the 3rd quarter. Quarry LP now owns 879 shares of the company's stock worth $59,000 after buying an additional 713 shares during the last quarter. Global Retirement Partners LLC grew its position in Frontdoor by 8,376.9% during 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 during the period. Finally, Wexford Capital LP purchased a new position in Frontdoor in the third quarter valued at about $106,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FTDR. Weiss Ratings lowered shares of Frontdoor from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 21st. Truist Financial set a $82.00 target price on Frontdoor in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $74.75.

Frontdoor Stock Performance

Shares of FTDR opened at $72.63 on Friday. The stock's 50-day simple moving average is $70.99 and its 200 day simple moving average is $63.97. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 20.81 and a beta of 1.46. The company has a debt-to-equity ratio of 4.95, a quick ratio of 1.47 and a current ratio of 1.47. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week high of $80.73.

Frontdoor (NASDAQ:FTDR - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.07. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.The business had revenue of $451.00 million during the quarter, compared to analyst estimates of $442.28 million. During the same quarter in the previous year, the firm earned $0.64 EPS. The company's quarterly revenue was up 5.9% compared to the same quarter last year. Research analysts forecast that Frontdoor Inc. will post 4.48 EPS for the current fiscal 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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