Frontdoor Inc. $FTDR Shares Bought by Lazard Asset Management LLC

Key Points

• Lazard Asset Management increased its Frontdoor stake by 20.6% in the first quarter, adding 14,064 shares to own 82,367 shares valued at approximately $4.35 million. Several other institutional investors also boosted their positions.
• Frontdoor reported quarterly EPS of $0.73, exceeding estimates of $0.66, while revenue reached $451 million, up 5.9% year over year and above analyst expectations.
• FTDR opened at $72.63, compared with a 52-week range of $48.47 to $80.73. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $74.75.

Lazard Asset Management LLC lifted its position in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 20.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,367 shares of the company's stock after buying an additional 14,064 shares during the quarter. Lazard Asset Management LLC owned approximately 0.12% of Frontdoor worth $4,354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB lifted its stake in shares of Frontdoor by 6.0% during the 4th quarter. Swedbank AB now owns 1,283,600 shares of the company's stock worth $74,051,000 after purchasing an additional 73,000 shares during the period. KBC Group NV increased its stake in Frontdoor by 271.7% in the fourth quarter. KBC Group NV now owns 27,360 shares of the company's stock valued at $1,578,000 after purchasing an additional 20,000 shares during the last quarter. Willis Investment Counsel lifted its position in Frontdoor by 40.5% during the fourth quarter. Willis Investment Counsel now owns 75,237 shares of the company's stock worth $4,340,000 after buying an additional 21,704 shares during the period. SG Americas Securities LLC boosted its stake in Frontdoor by 553.8% in the 4th quarter. SG Americas Securities LLC now owns 21,287 shares of the company's stock worth $1,228,000 after buying an additional 18,031 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Frontdoor in the 1st quarter worth about $1,793,000.

Frontdoor Stock Performance

NASDAQ FTDR opened at $72.63 on Friday. The firm has a market capitalization of $5.10 billion, a P/E ratio of 20.81 and a beta of 1.46. Frontdoor Inc. has a 1-year low of $48.47 and a 1-year high of $80.73. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47. The business's 50-day simple moving average is $70.99 and its 200-day simple moving average is $63.97.

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

Wall Street Analyst Weigh In

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

Frontdoor 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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