Vanguard Group Inc. Sells 179,725 Shares of Frontdoor Inc. $FTDR

Vanguard Group Inc. reduced its stake in shares of Frontdoor Inc. (NASDAQ:FTDR) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,502,057 shares of the company’s stock after selling 179,725 shares during the quarter. Vanguard Group Inc. owned 0.12% of Frontdoor worth $490,484,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Arizona State Retirement System raised its stake in Frontdoor by 0.9% in the third quarter. Arizona State Retirement System now owns 21,758 shares of the company’s stock valued at $1,464,000 after purchasing an additional 193 shares in the last quarter. Park Avenue Securities LLC grew its stake in Frontdoor by 4.0% during the fourth quarter. Park Avenue Securities LLC now owns 5,107 shares of the company’s stock worth $295,000 after buying an additional 198 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Frontdoor by 11.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,065 shares of the company’s stock valued at $119,000 after buying an additional 217 shares during the period. Smartleaf Asset Management LLC increased its holdings in Frontdoor by 10.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,470 shares of the company’s stock valued at $165,000 after buying an additional 233 shares during the period. Finally, Optivise Advisory Services LLC raised its position in shares of Frontdoor by 6.9% in the 4th quarter. Optivise Advisory Services LLC now owns 3,641 shares of the company’s stock valued at $210,000 after buying an additional 235 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Frontdoor from a “sell” rating to a “neutral” rating and upped their price target for the stock from $50.00 to $67.00 in a report on Monday, March 2nd. Truist Financial set a $71.00 price objective on shares of Frontdoor in a research report on Monday, January 26th. Wall Street Zen cut Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings raised Frontdoor from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 22nd. Finally, Benchmark assumed coverage on Frontdoor in a research note on Thursday, March 26th. They issued a “buy” rating and a $80.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Frontdoor has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Frontdoor Trading Up 3.3%

FTDR opened at $65.93 on Wednesday. The company has a market cap of $4.63 billion, a P/E ratio of 18.89 and a beta of 1.55. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.95. The company’s 50 day moving average is $60.53 and its 200-day moving average is $58.68. Frontdoor Inc. has a 1-year low of $48.47 and a 1-year high of $70.77.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $451.00 million during the quarter, compared to analysts’ expectations of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. Equities research analysts predict that Frontdoor Inc. will post 4.48 earnings per share for the current fiscal year.

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.