Pinnacle Wealth Management LLC Makes New $528,000 Investment in Frontdoor Inc. $FTDR

Key Points

• Pinnacle Wealth Management LLC has invested approximately $528,000 in Frontdoor Inc. by acquiring 13,733 shares of the company during the first quarter.
• Frontdoor reported $1.63 earnings per share (EPS) for the last quarter, exceeding analyst estimates of $1.44, alongside a year-over-year revenue increase of 13.8% to $617 million.
• Analysts have raised their price targets for Frontdoor, with Truist Financial setting a new target of $71.00, reflecting a positive sentiment towards the company’s performance.

Pinnacle Wealth Management LLC acquired a new position in Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,733 shares of the company's stock, valued at approximately $528,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Boston Partners increased its stake in Frontdoor by 1.2% in the first quarter. Boston Partners now owns 5,980,271 shares of the company's stock valued at $229,891,000 after acquiring an additional 68,733 shares during the last quarter. Reinhart Partners LLC. increased its stake in Frontdoor by 16.2% in the first quarter. Reinhart Partners LLC. now owns 2,368,684 shares of the company's stock valued at $91,005,000 after acquiring an additional 331,066 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Frontdoor by 6.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,067,575 shares of the company's stock valued at $113,034,000 after acquiring an additional 122,981 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Frontdoor by 0.6% in the fourth 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 last quarter. Finally, Invesco Ltd. increased its stake in Frontdoor by 46.9% in the first quarter. Invesco Ltd. now owns 1,223,776 shares of the company's stock valued at $47,017,000 after acquiring an additional 390,434 shares during the last quarter.

Frontdoor Price Performance

FTDR stock opened at $58.89 on Monday. The firm has a 50 day moving average price of $57.98 and a 200-day moving average price of $51.28. Frontdoor Inc. has a 52-week low of $35.61 and a 52-week high of $64.91. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 17.37 and a beta of 1.32. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.49 and a current ratio of 1.49.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.19. Frontdoor had a return on equity of 125.21% and a net margin of 13.07%. The firm had revenue of $617.00 million for the quarter, compared to the consensus estimate of $602.62 million. During the same period last year, the business posted $1.27 EPS. The company's revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts forecast that Frontdoor Inc. will post 3.07 EPS for the current fiscal year.

Insider Activity

In other news, SVP Jeffrey Fiarman sold 129,673 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $56.15, for a total transaction of $7,281,138.95. Following the completion of the sale, the senior vice president owned 34,646 shares of the company's stock, valued at $1,945,372.90. The trade was a 78.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Frontdoor from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. The Goldman Sachs Group raised their price objective on Frontdoor from $44.00 to $50.00 and gave the company a "sell" rating in a research note on Wednesday, August 6th. Oppenheimer raised their price objective on Frontdoor from $56.00 to $63.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, Truist Financial raised their price objective on Frontdoor from $67.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th.

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.

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