Meeder Asset Management Inc. Takes Position in Frontdoor Inc. $FTDR

Key Points

• Meeder Asset Management opened a new position in Frontdoor, buying 21,527 shares worth about $1.14 million in the first quarter.
• Frontdoor reported better-than-expected quarterly earnings of $0.73 per share on revenue of $451 million, topping analyst estimates and up 5.9% year over year.
• Despite the positive results, the stock was down 1.1% in trading, while analysts currently rate it a Moderate Buy with a consensus price target of $72.00.

Meeder Asset Management Inc. acquired a new stake in Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 21,527 shares of the company's stock, valued at approximately $1,138,000.

Other institutional investors also recently bought and sold shares of the company. Boston Partners grew its holdings in Frontdoor by 8.5% during the fourth quarter. Boston Partners now owns 5,777,252 shares of the company's stock worth $333,742,000 after acquiring an additional 454,040 shares during the period. Geode Capital Management LLC lifted its holdings in Frontdoor by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 1,887,029 shares of the company's stock valued at $108,879,000 after acquiring an additional 27,237 shares during the period. Reinhart Partners LLC. lifted its holdings in Frontdoor by 25.6% in the fourth quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company's stock valued at $93,987,000 after acquiring an additional 332,556 shares during the period. Morgan Stanley boosted its position in shares of Frontdoor by 11.5% during the 4th quarter. Morgan Stanley now owns 1,485,123 shares of the company's stock worth $85,677,000 after purchasing an additional 153,138 shares in the last quarter. Finally, Swedbank AB boosted its position 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 in the last quarter.

Frontdoor Trading Down 1.1%

Shares of Frontdoor stock opened at $74.87 on Tuesday. Frontdoor Inc. has a fifty-two week low of $48.47 and a fifty-two week high of $80.73. The business's fifty day moving average is $69.11 and its two-hundred day moving average is $63.11. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 4.95. The firm has a market cap of $5.26 billion, a PE ratio of 21.45 and a beta of 1.46.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.66 by $0.07. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.The firm had revenue of $451.00 million during the quarter, compared to analyst estimates of $442.28 million. During the same period in the prior year, the firm posted $0.64 earnings per share. The business's quarterly revenue was up 5.9% compared to the same quarter last year. Analysts anticipate that Frontdoor Inc. will post 4.48 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FTDR. Benchmark began coverage on shares of Frontdoor in a report on Thursday, March 26th. They issued a "buy" rating and a $80.00 price target for the company. Weiss Ratings cut shares of Frontdoor from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $72.00.

About Frontdoor

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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