IMC Chicago LLC Makes New $583,000 Investment in Frontdoor Inc. $FTDR

IMC Chicago LLC bought a new position in Frontdoor Inc. (NASDAQ:FTDR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,517 shares of the company’s stock, valued at approximately $583,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hsbc Holdings PLC bought a new stake in Frontdoor during the second quarter worth approximately $269,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Frontdoor in the second quarter valued at $6,634,000. Empowered Funds LLC bought a new position in shares of Frontdoor in the second quarter valued at $28,045,000. United Capital Financial Advisors LLC acquired a new stake in shares of Frontdoor during the 2nd quarter valued at $836,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Frontdoor during the 2nd quarter valued at $58,000.

Frontdoor Price Performance

NASDAQ FTDR opened at $82.89 on Friday. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 21.99 and a beta of 1.47. The company has a 50 day simple moving average of $78.14 and a 200-day simple moving average of $67.33. Frontdoor Inc. has a 52-week low of $48.47 and a 52-week high of $93.43.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.17. The firm had revenue of $645.00 million for the quarter, compared to the consensus estimate of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 earnings per share. Equities research analysts predict that Frontdoor Inc. will post 4.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FTDR has been the topic of a number of recent research reports. Benchmark lifted their target price on Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wolfe Research raised Frontdoor to an “outperform” rating in a report on Monday, August 24th. Truist Financial increased their price target on Frontdoor from $82.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Oppenheimer increased their price target on Frontdoor from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. initiated coverage on Frontdoor in a report on Monday, August 24th. They set a “neutral” rating and a $95.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.60.

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.