Summit Global Investments Buys Shares of 16,737 Frontdoor Inc. $FTDR

Summit Global Investments bought a new position in Frontdoor Inc. (NASDAQ:FTDR) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 16,737 shares of the company’s stock, valued at approximately $1,299,000.

Several other institutional investors have also modified their holdings of the stock. Private Trust Co. NA boosted its position in shares of Frontdoor by 256.3% during the 4th quarter. Private Trust Co. NA now owns 563 shares of the company’s stock valued at $32,000 after acquiring an additional 405 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Frontdoor by 164.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after purchasing an additional 497 shares during the last quarter. Quarry LP boosted its holdings in Frontdoor by 429.5% in the 3rd quarter. Quarry LP now owns 879 shares of the company’s stock valued at $59,000 after purchasing an additional 713 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Frontdoor by 8,376.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock valued at $64,000 after buying an additional 1,089 shares during the period. Finally, Wexford Capital LP purchased a new stake in shares of Frontdoor in the 3rd quarter valued at approximately $106,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FTDR shares. The Goldman Sachs Group restated a “neutral” rating on shares of Frontdoor in a report on Friday, August 7th. Weiss Ratings lowered Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 21st. Oppenheimer raised their target price on Frontdoor from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Benchmark lifted their target price on Frontdoor from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Truist Financial upped their price target on Frontdoor from $82.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Frontdoor Price Performance

Frontdoor stock opened at $86.47 on Friday. The company’s 50 day simple moving average is $75.25 and its 200-day simple moving average is $65.62. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 22.94 and a beta of 1.47. Frontdoor Inc. has a 1 year low of $48.47 and a 1 year high of $93.43. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.59 and a current ratio of 1.59.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.17. The firm had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $1.63 EPS. As a group, equities research analysts expect that Frontdoor Inc. will post 4.66 earnings per share for the current year.

About Frontdoor

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.