Legal & General Group Plc Acquires Shares of 165,107 Frontdoor Inc. $FTDR

Legal & General Group Plc acquired a new stake in shares of Frontdoor Inc. (NASDAQ:FTDR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 165,107 shares of the company’s stock, valued at approximately $12,811,000. Legal & General Group Plc owned 0.24% of Frontdoor as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FTDR. Ieq Capital LLC acquired a new position in Frontdoor in the 2nd quarter worth $1,441,000. Swedbank AB boosted its position in Frontdoor by 6.0% in the 4th quarter. Swedbank AB now owns 1,283,600 shares of the company’s stock valued at $74,051,000 after buying an additional 73,000 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Frontdoor by 20.2% during the first quarter. California State Teachers Retirement System now owns 82,866 shares of the company’s stock valued at $4,380,000 after acquiring an additional 13,941 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Frontdoor during the second quarter valued at about $859,552,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Frontdoor during the first quarter worth about $1,793,000.

Frontdoor Stock Performance

Shares of Frontdoor stock opened at $80.87 on Tuesday. 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 Inc. has a 1 year low of $48.47 and a 1 year high of $93.43. The firm’s 50-day simple moving average is $78.32 and its 200-day simple moving average is $67.58. The firm has a market cap of $5.57 billion, a PE ratio of 21.45 and a beta of 1.47.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial increased their price target on Frontdoor from $82.00 to $105.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wolfe Research upgraded Frontdoor to an “outperform” rating in a report on Monday, August 24th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Frontdoor in a research report on Friday, August 7th. JPMorgan Chase & Co. started coverage on Frontdoor in a research note on Monday, August 24th. They set a “neutral” rating and a $95.00 target price for the company. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Frontdoor in a research report on Tuesday, August 18th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Frontdoor presently has an average rating of “Moderate Buy” and an average price target of $92.60.

Frontdoor Company 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.