Vestcor Inc Makes New Investment in Frontdoor Inc. (NASDAQ:FTDR)

Key Points

• Vestcor Inc recently acquired 5,300 shares of Frontdoor Inc., valued at approximately $204,000, marking a significant new investment in the company.
• JPMorgan Chase & Co. raised its price target for Frontdoor from $50 to $55, maintaining a "neutral" rating on the stock.
• Frontdoor's latest earnings report showed a quarterly revenue of $617 million, exceeding estimates and indicating a year-over-year revenue increase of 13.8%.

Vestcor Inc purchased a new position in Frontdoor Inc. (NASDAQ:FTDR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,300 shares of the company's stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also bought and sold shares of FTDR. Quantinno Capital Management LP raised its holdings in Frontdoor by 0.8% in the 4th quarter. Quantinno Capital Management LP now owns 24,212 shares of the company's stock valued at $1,324,000 after acquiring an additional 183 shares during the last quarter. Mariner LLC raised its holdings in Frontdoor by 4.0% in the 4th quarter. Mariner LLC now owns 7,311 shares of the company's stock valued at $400,000 after acquiring an additional 284 shares during the last quarter. Xponance Inc. grew its stake in shares of Frontdoor by 5.0% in the 1st quarter. Xponance Inc. now owns 5,971 shares of the company's stock valued at $229,000 after buying an additional 285 shares during the period. GAMMA Investing LLC grew its stake in shares of Frontdoor by 16.5% in the 1st quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock valued at $94,000 after buying an additional 347 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Frontdoor by 2.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,172 shares of the company's stock valued at $492,000 after buying an additional 368 shares during the period.

Analysts Set New Price Targets

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

Frontdoor Price Performance

Shares of NASDAQ:FTDR traded down $2.33 during trading on Tuesday, hitting $56.16. 1,946,554 shares of the stock were exchanged, compared to its average volume of 559,103. The company has a fifty day moving average price of $57.81 and a two-hundred day moving average price of $51.48. The company has a market cap of $4.13 billion, a PE ratio of 18.17 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 12-month low of $35.61 and a 12-month high of $64.91.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.44 by $0.19. The business had revenue of $617.00 million for the quarter, compared to analyst estimates of $602.62 million. Frontdoor had a return on equity of 121.05% and a net margin of 12.59%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 EPS. On average, analysts forecast that Frontdoor Inc. will post 3.07 EPS for the current year.

Frontdoor Company Profile

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.