Los Angeles Capital Management LLC Cuts Stock Holdings in Frontdoor Inc. $FTDR

Los Angeles Capital Management LLC reduced its position in shares of Frontdoor Inc. (NASDAQ:FTDR) by 32.4% in the 4th quarter, HoldingsChannel reports. The firm owned 37,422 shares of the company’s stock after selling 17,951 shares during the period. Los Angeles Capital Management LLC’s holdings in Frontdoor were worth $2,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Private Trust Co. NA raised its holdings in Frontdoor by 256.3% during the fourth quarter. Private Trust Co. NA now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 405 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Frontdoor by 164.6% during the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after purchasing an additional 497 shares in the last quarter. Quarry LP raised its holdings in Frontdoor by 429.5% during the third quarter. Quarry LP now owns 879 shares of the company’s stock worth $59,000 after purchasing an additional 713 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Frontdoor by 8,376.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock worth $64,000 after purchasing an additional 1,089 shares in the last quarter. Finally, LSV Asset Management purchased a new position in Frontdoor during the third quarter worth about $87,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FTDR shares. Oppenheimer reissued an “outperform” rating and set a $70.00 price target on shares of Frontdoor in a report on Thursday, February 26th. The Goldman Sachs Group upgraded shares of Frontdoor from a “sell” rating to a “neutral” rating and upped their target price for the stock from $50.00 to $67.00 in a research report on Monday, March 2nd. Wall Street Zen lowered shares of Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Weiss Ratings lowered shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 21st. Finally, Benchmark initiated coverage on shares of Frontdoor in a research report on Thursday, March 26th. They set a “buy” rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Frontdoor Trading Up 3.7%

Shares of FTDR opened at $65.87 on Wednesday. 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 firm’s 50-day moving average is $61.01 and its two-hundred day moving average is $59.22. Frontdoor Inc. has a twelve month low of $48.47 and a twelve month high of $70.77. The firm has a market capitalization of $4.63 billion, a P/E ratio of 18.87 and a beta of 1.50.

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