Frontdoor Inc. $FTDR Position Cut by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors cut its Frontdoor stake by 5.9% in the third quarter, selling 45,196 shares and retaining 719,351 shares valued at approximately $52.6 million.
• Frontdoor shares opened at $76.40, down 1.8%, with the stock trading between a 12-month range of $48.47 and $93.43. The company recently exceeded quarterly earnings and revenue expectations, reporting $1.93 EPS and $645 million in revenue.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $95.40, despite mixed revisions including Goldman Sachs lowering its target to $81.

Fort Washington Investment Advisors Inc. OH trimmed its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 5.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 719,351 shares of the company's stock after selling 45,196 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 1.04% of Frontdoor worth $52,599,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ieq Capital LLC acquired a new stake in Frontdoor in the 2nd quarter worth approximately $1,441,000. Amundi grew its holdings in Frontdoor by 331.8% during the second quarter. Amundi now owns 100,134 shares of the company's stock valued at $7,769,000 after purchasing an additional 76,942 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Frontdoor during the second quarter valued at approximately $1,591,000. Ancora Advisors LLC grew its holdings in Frontdoor by 32.4% during the second quarter. Ancora Advisors LLC now owns 122,875 shares of the company's stock valued at $9,534,000 after purchasing an additional 30,090 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Frontdoor in the second quarter valued at approximately $46,580,000.

Frontdoor Stock Down 1.8%

Shares of FTDR stock opened at $76.40 on Thursday. Frontdoor Inc. has a 12 month low of $48.47 and a 12 month high of $93.43. The firm has a market cap of $5.26 billion, a PE ratio of 20.27 and a beta of 1.53. The stock has a 50 day moving average of $80.37 and a 200-day moving average of $71.49. 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 (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.17. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The business had revenue of $645.00 million for the quarter, compared to the consensus estimate of $643.40 million. During the same quarter last year, the company posted $1.63 earnings per share. Frontdoor's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that Frontdoor Inc. will post 4.67 EPS for the current year.

Analysts Set New Price Targets

FTDR has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of Frontdoor from $91.00 to $81.00 and set a "neutral" rating for the company in a research note on Monday. JPMorgan Chase & Co. assumed coverage on shares of Frontdoor in a research note on Monday, August 24th. They issued a "neutral" rating and a $95.00 target price on the stock. Weiss Ratings lowered shares of Frontdoor from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, October 6th. Wolfe Research upgraded shares of Frontdoor to an "outperform" rating in a report on Monday, August 24th. Finally, Truist Financial lifted their target price on shares of Frontdoor from $82.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.40.

Frontdoor Profile

Frontdoor, Inc NASDAQ: FTDR is a provider of home warranty and home services in the United States. The company helps homeowners manage the cost and inconvenience of repairing or replacing covered home systems and appliances by connecting them with qualified service professionals.

Frontdoor's portfolio includes American Home Shield, a major home warranty brand, along with 2-10 Home Buyers Warranty, HSA Home Warranty and Landmark Home Warranty. Its services generally cover items such as heating and cooling systems, electrical and plumbing systems, kitchen appliances and other household equipment, subject to the terms of individual contracts.

In addition to warranty plans, Frontdoor operates home services offerings that support homeowners, real estate professionals, contractors and service providers.

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