Globeflex Capital L P Makes New $7.11 Million Investment in Frontdoor Inc. $FTDR

Key Points

• Globeflex Capital initiated a $7.11 million position in Frontdoor, purchasing 91,610 shares during the second quarter. The stake represented about 0.13% of Frontdoor and 0.9% of Globeflex’s portfolio.
• Frontdoor reported quarterly EPS of $1.93, beating estimates of $1.76, while revenue rose 4.5% year over year to $645 million. The company posted a 12.72% net margin and 120.9% return on equity.
• Analysts remain generally positive, with four Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $92. Recent targets range from $96 to $105.

Globeflex Capital L P bought a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 91,610 shares of the company's stock, valued at approximately $7,108,000. Frontdoor makes up approximately 0.9% of Globeflex Capital L P's holdings, making the stock its 23rd largest holding. Globeflex Capital L P owned 0.13% of Frontdoor at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Keating Financial Advisory Services Inc. bought a new stake in shares of Frontdoor during the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 497 shares in the last quarter. Quarry LP raised its stake in shares of Frontdoor by 429.5% in the 3rd quarter. Quarry LP now owns 879 shares of the company's stock valued at $59,000 after acquiring an additional 713 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Frontdoor by 8,376.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,102 shares of the company's stock worth $64,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in Frontdoor in the 2nd quarter worth approximately $83,000.

Frontdoor Stock Performance

FTDR opened at $82.59 on Monday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.98. The stock's 50 day moving average price is $76.86 and its two-hundred day moving average price is $66.49. The firm has a market capitalization of $5.69 billion, a P/E ratio of 21.91 and a beta of 1.47. Frontdoor Inc. has a 12-month low of $48.47 and a 12-month 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 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.17. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The company had revenue of $645.00 million during the quarter, compared to analyst estimates of $643.40 million. During the same period in the previous year, the company earned $1.63 earnings per share. The company's quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that Frontdoor Inc. will post 4.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Oppenheimer upped their target price on Frontdoor from $70.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. The Goldman Sachs Group restated a "neutral" rating on shares of Frontdoor in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Frontdoor in a report on Tuesday, August 18th. Truist Financial upped 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, Benchmark raised their target price on shares of Frontdoor from $80.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $92.00.

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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