Oppenheimer & Co. Inc. Acquires 27,651 Shares of Frontdoor Inc. $FTDR

Key Points

• Oppenheimer & Co. acquired 27,651 Frontdoor shares during the third quarter, valued at approximately $2.02 million. Several other institutional investors also increased their positions.
• Frontdoor reported quarterly EPS of $1.93, exceeding analyst estimates of $1.76, while revenue rose 4.5% year over year to $645 million.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $95.40; Frontdoor shares opened at $87.62, near their 52-week high.

Oppenheimer & Co. Inc. bought a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 27,651 shares of the company's stock, valued at approximately $2,022,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westover Capital Advisors LLC increased its stake in shares of Frontdoor by 28.7% during the 3rd quarter. Westover Capital Advisors LLC now owns 52,499 shares of the company's stock worth $3,839,000 after purchasing an additional 11,704 shares during the last quarter. Pullen Investment Management LLC grew its holdings in Frontdoor by 0.6% during the 3rd quarter. Pullen Investment Management LLC now owns 48,078 shares of the company's stock valued at $3,515,000 after buying an additional 283 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Frontdoor by 146.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,462 shares of the company's stock worth $546,000 after acquiring an additional 4,433 shares during the period. Sterling Capital Management LLC increased its holdings in shares of Frontdoor by 838.1% in the third quarter. Sterling Capital Management LLC now owns 2,364 shares of the company's stock worth $173,000 after purchasing an additional 2,112 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Frontdoor by 65.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,792 shares of the company's stock worth $350,000 after acquiring an additional 1,898 shares during the last quarter.

Frontdoor Stock Up 0.3%

NASDAQ FTDR opened at $87.62 on Friday. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 23.24 and a beta of 1.53. The company has a fifty day moving average of $79.93 and a two-hundred day moving average of $69.33. Frontdoor Inc. has a 52 week low of $48.47 and a 52 week high of $93.43. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.98.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.17. The company had revenue of $645.00 million during the quarter, compared to analyst estimates of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. On average, analysts predict that Frontdoor Inc. will post 4.67 earnings per share for the current year.

Analyst Ratings Changes

FTDR has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price objective on shares of Frontdoor from $91.00 to $81.00 and set a "neutral" rating for the company in a report on Monday, October 12th. Weiss Ratings raised Frontdoor from a "hold (c+)" rating to a "buy (b)" rating in a research report on Wednesday, October 21st. Oppenheimer raised their price target on shares of Frontdoor from $70.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Benchmark boosted their target price on Frontdoor from $80.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Wolfe Research raised Frontdoor to an "outperform" rating in a report on Monday, August 24th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $95.40.

About Frontdoor

Frontdoor, Inc NASDAQ: FTDR is a provider of home warranties and related home repair services. The company helps homeowners manage the cost and complexity of maintaining household systems and appliances, including heating and cooling equipment, plumbing, electrical systems, water heaters and major kitchen appliances.

Frontdoor operates primarily through its American Home Shield brand, which offers home service plans and access to a network of professional contractors. The company also provides digital tools and services designed to help homeowners diagnose household problems, request service and connect with qualified professionals.

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