Paralel Advisors LLC Takes Position in Frontdoor Inc. $FTDR

Key Points

• Paralel Advisors LLC acquired 43,744 Frontdoor shares during the second quarter, valued at approximately $3.394 million and representing a 0.06% stake.
• Analysts remain broadly positive: Truist, Benchmark and Oppenheimer raised their price targets, while Frontdoor carries a consensus “Moderate Buy” rating and a $92 target price.
• Frontdoor exceeded quarterly expectations, reporting $1.93 in earnings per share versus $1.76 expected and revenue of $645 million, up 4.5% year over year.

Paralel Advisors LLC acquired a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 43,744 shares of the company's stock, valued at approximately $3,394,000. Paralel Advisors LLC owned 0.06% of Frontdoor as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of FTDR. Private Trust Co. NA grew its stake in Frontdoor by 256.3% in the 4th quarter. Private Trust Co. NA now owns 563 shares of the company's stock worth $32,000 after acquiring an additional 405 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Frontdoor by 164.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company's stock worth $47,000 after purchasing an additional 497 shares during the period. Quarry LP lifted its stake in shares of Frontdoor by 429.5% during the 3rd quarter. Quarry LP now owns 879 shares of the company's stock worth $59,000 after purchasing an additional 713 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Frontdoor by 8,376.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company's stock worth $64,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in shares of Frontdoor during the second quarter worth $83,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FTDR shares. Truist Financial upped their target price on Frontdoor from $82.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Benchmark raised their price target on Frontdoor from $80.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Weiss Ratings restated a "buy (b-)" rating on shares of Frontdoor in a report on Tuesday. The Goldman Sachs Group restated a "neutral" rating on shares of Frontdoor in a report on Friday, August 7th. Finally, Oppenheimer upped their price objective on shares of Frontdoor from $70.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Frontdoor presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Frontdoor Trading Down 0.4%

Shares of FTDR opened at $81.94 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 3.98. The firm has a market capitalization of $5.65 billion, a P/E ratio of 21.73 and a beta of 1.47. The stock's fifty day simple moving average is $76.58 and its 200 day simple moving average is $66.32. Frontdoor Inc. has a twelve month low of $48.47 and a twelve month high of $93.43.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its earnings results 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. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The firm had revenue of $645.00 million for the quarter, compared to analysts' expectations of $643.40 million. During the same quarter last year, the firm earned $1.63 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that Frontdoor Inc. will post 4.66 earnings per share for the current 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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