Northern Trust Corp Buys 88,215 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Northern Trust Corp raised its stake in Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 933,652 shares of the company's stock after purchasing an additional 88,215 shares during the quarter. Northern Trust Corp owned approximately 1.23% of Frontdoor worth $51,043,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FTDR. Bessemer Group Inc. grew its stake in shares of Frontdoor by 514.7% in the fourth quarter. Bessemer Group Inc. now owns 627 shares of the company's stock valued at $34,000 after buying an additional 525 shares in the last quarter. USA Financial Formulas bought a new position in shares of Frontdoor in the 4th quarter valued at about $60,000. TD Private Client Wealth LLC grew its position in shares of Frontdoor by 12.9% in the 4th quarter. TD Private Client Wealth LLC now owns 1,597 shares of the company's stock valued at $87,000 after acquiring an additional 183 shares during the period. Blue Trust Inc. increased its stake in shares of Frontdoor by 315.3% during the 4th quarter. Blue Trust Inc. now owns 1,632 shares of the company's stock worth $89,000 after purchasing an additional 1,239 shares during the last quarter. Finally, Nkcfo LLC bought a new stake in shares of Frontdoor in the 4th quarter valued at about $96,000.

Frontdoor Stock Performance

FTDR stock traded down $0.35 during mid-day trading on Friday, hitting $53.12. 518,354 shares of the company were exchanged, compared to its average volume of 739,563. Frontdoor, Inc. has a 1-year low of $32.95 and a 1-year high of $63.49. The business has a 50 day simple moving average of $40.88 and a 200-day simple moving average of $50.99. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $3.91 billion, a PE ratio of 17.59 and a beta of 1.21.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.27. The business had revenue of $426.00 million during the quarter, compared to analysts' expectations of $416.37 million. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.44 EPS. On average, equities analysts forecast that Frontdoor, Inc. will post 3.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Truist Financial boosted their price target on Frontdoor from $58.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. The Goldman Sachs Group decreased their target price on Frontdoor from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. downgraded Frontdoor from an "overweight" rating to a "neutral" rating and cut their price target for the company from $58.00 to $40.00 in a report on Tuesday, April 22nd.

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.