Invesco Ltd. Acquires 390,434 Shares of Frontdoor Inc. $FTDR

Key Points

• Invesco Ltd. increased its holdings in Frontdoor Inc. by 46.9% in Q1, owning approximately 1.66% of the company valued at $47 million.
• Frontdoor reported a 12% year-over-year increase in revenue with $617 million and an EPS of $1.63, exceeding analysts' expectations.
• Stock analysts have raised their price targets for Frontdoor, with Oppenheimer setting a new target of $63 and Truist Financial at $71, though Goldman Sachs maintained a "sell" rating with a target of $50.

Invesco Ltd. grew its stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 46.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,223,776 shares of the company's stock after buying an additional 390,434 shares during the period. Invesco Ltd. owned 1.66% of Frontdoor worth $47,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quantinno Capital Management LP raised its position in shares of Frontdoor by 0.8% during the fourth quarter. Quantinno Capital Management LP now owns 24,212 shares of the company's stock valued at $1,324,000 after buying an additional 183 shares during the last quarter. Mariner LLC raised its position in shares of Frontdoor by 4.0% during the fourth quarter. Mariner LLC now owns 7,311 shares of the company's stock valued at $400,000 after buying an additional 284 shares during the last quarter. Xponance Inc. raised its position in shares of Frontdoor by 5.0% during the first quarter. Xponance Inc. now owns 5,971 shares of the company's stock valued at $229,000 after buying an additional 285 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Frontdoor by 16.5% during the first quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock valued at $94,000 after buying an additional 347 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Frontdoor by 2.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 13,172 shares of the company's stock valued at $492,000 after buying an additional 368 shares during the last quarter.

Insider Buying and Selling

In other news, SVP Jeffrey Fiarman sold 129,673 shares of Frontdoor stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $56.15, for a total transaction of $7,281,138.95. Following the completion of the sale, the senior vice president directly owned 34,646 shares in the company, valued at approximately $1,945,372.90. This trade represents a 78.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Frontdoor from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Oppenheimer raised their target price on shares of Frontdoor from $56.00 to $63.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. The Goldman Sachs Group raised their target price on shares of Frontdoor from $44.00 to $50.00 and gave the company a "sell" rating in a report on Wednesday, August 6th. Finally, Truist Financial raised their target price on shares of Frontdoor from $67.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Frontdoor presently has a consensus rating of "Hold" and a consensus price target of $59.75.

Frontdoor Trading Up 2.7%

NASDAQ FTDR traded up $1.5850 on Friday, hitting $60.2550. 135,648 shares of the stock were exchanged, compared to its average volume of 742,896. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a fifty day moving average price of $58.19 and a two-hundred day moving average price of $51.40. The firm has a market capitalization of $4.39 billion, a P/E ratio of 17.77 and a beta of 1.32. Frontdoor Inc. has a 52-week low of $35.61 and a 52-week high of $64.91.

Frontdoor (NASDAQ:FTDR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.44 by $0.19. The company had revenue of $617.00 million during the quarter, compared to analyst estimates of $602.62 million. Frontdoor had a net margin of 13.07% and a return on equity of 125.21%. Frontdoor's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 earnings per share. Frontdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts forecast that Frontdoor Inc. will post 3.07 EPS for the current fiscal year.

Frontdoor Company Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company's home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.