JPMorgan Chase & Co. Buys 47,587 Shares of Frontdoor Inc. $FTDR

Key Points

• JPMorgan Chase raised its stake in Frontdoor by 26.8% in Q3, buying 47,587 shares to hold 225,385 shares (about 0.31%) worth roughly $15.17 million.
• Frontdoor beat expectations last quarter, reporting $0.23 EPS vs. $0.11 consensus and revenue of $433 million (up 13.1% year-over-year), while shares trade around $55.84 versus a one-year high of $70.77.
• Analyst sentiment is cautiously positive with a consensus of "Moderate Buy" (four Buys, three Holds) and an average target of $68.60, including recent upgrades and higher price targets from firms like Benchmark and Goldman Sachs.

JPMorgan Chase & Co. raised its stake in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 26.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,385 shares of the company's stock after acquiring an additional 47,587 shares during the quarter. JPMorgan Chase & Co. owned about 0.31% of Frontdoor worth $15,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board raised its position in shares of Frontdoor by 11.7% during the third quarter. Public Sector Pension Investment Board now owns 316,564 shares of the company's stock worth $21,302,000 after acquiring an additional 33,261 shares during the last quarter. Algert Global LLC boosted its holdings in Frontdoor by 24.5% in the third quarter. Algert Global LLC now owns 260,233 shares of the company's stock valued at $17,511,000 after acquiring an additional 51,214 shares during the last quarter. Nordea Investment Management AB increased its position in Frontdoor by 3.7% in the third quarter. Nordea Investment Management AB now owns 274,407 shares of the company's stock worth $18,293,000 after purchasing an additional 9,880 shares during the period. Federated Hermes Inc. increased its position in Frontdoor by 978.0% in the third quarter. Federated Hermes Inc. now owns 154,980 shares of the company's stock worth $10,429,000 after purchasing an additional 140,604 shares during the period. Finally, Prana Capital Management LP bought a new stake in Frontdoor during the 3rd quarter worth about $1,762,000.

Analyst Ratings Changes

FTDR has been the topic of several analyst reports. Weiss Ratings upgraded shares of Frontdoor from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. Benchmark assumed coverage on shares of Frontdoor in a report on Thursday. They set a "buy" rating and a $80.00 target price for the company. Wall Street Zen cut shares of Frontdoor from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Truist Financial set a $71.00 price target on Frontdoor in a research note on Monday, January 26th. Finally, The Goldman Sachs Group upgraded Frontdoor from a "sell" rating to a "neutral" rating and raised their price target for the stock from $50.00 to $67.00 in a research report on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.60.

Frontdoor Price Performance

FTDR stock opened at $55.84 on Friday. The stock has a 50-day moving average price of $60.05 and a two-hundred day moving average price of $60.14. Frontdoor Inc. has a 1 year low of $35.61 and a 1 year high of $70.77. The stock has a market cap of $3.94 billion, a PE ratio of 16.38 and a beta of 1.31. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 4.73.

Frontdoor (NASDAQ:FTDR - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.12. The company had revenue of $433.00 million during the quarter, compared to analysts' expectations of $421.62 million. Frontdoor had a return on equity of 120.79% and a net margin of 12.18%.Frontdoor's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities analysts forecast that Frontdoor Inc. will post 3.07 EPS for the current fiscal year.

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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