Jupiter Asset Management Ltd. Raises Holdings in Frontdoor Inc. (NASDAQ:FTDR)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Frontdoor Inc. by 26.8%, holding 531,375 shares valued at approximately $20.42 million.
• Frontdoor reported earnings of $0.64 per share, exceeding analysts' expectations and showing a 12.7% increase in quarterly revenue compared to the same period last year.
• JPMorgan Chase & Co. raised their price target for Frontdoor from $50.00 to $55.00, maintaining a "neutral" rating on the stock.

Jupiter Asset Management Ltd. lifted its stake in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 26.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 531,375 shares of the company's stock after buying an additional 112,266 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.72% of Frontdoor worth $20,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. FIL Ltd raised its stake in Frontdoor by 8.3% during the 4th quarter. FIL Ltd now owns 2,410,561 shares of the company's stock valued at $131,785,000 after purchasing an additional 184,051 shares during the period. Reinhart Partners LLC. boosted its holdings in shares of Frontdoor by 16.2% in the 1st quarter. Reinhart Partners LLC. now owns 2,368,684 shares of the company's stock worth $91,005,000 after purchasing an additional 331,066 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Frontdoor by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,127,553 shares of the company's stock worth $116,336,000 after purchasing an additional 14,079 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Frontdoor by 6.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,067,575 shares of the company's stock worth $113,034,000 after purchasing an additional 122,981 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Frontdoor by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,791,666 shares of the company's stock valued at $97,952,000 after acquiring an additional 10,192 shares during the period.

Frontdoor Stock Down 12.3%

Shares of FTDR traded down $7.20 during trading hours on Tuesday, hitting $51.29. The company had a trading volume of 400,059 shares, compared to its average volume of 740,266. The company has a market capitalization of $3.77 billion, a PE ratio of 16.62 and a beta of 1.32. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 5.88. Frontdoor Inc. has a one year low of $35.61 and a one year high of $64.91. The company's fifty day moving average price is $57.78 and its two-hundred day moving average price is $51.45.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.19. Frontdoor had a return on equity of 121.05% and a net margin of 12.59%. During the same quarter last year, the company posted $1.27 EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price objective on Frontdoor from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd.

About Frontdoor

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.