Oppenheimer Asset Management Inc. Makes New $1.20 Million Investment in Frontdoor Inc. $FTDR

Oppenheimer Asset Management Inc. acquired a new position in shares of Frontdoor Inc. (NASDAQ:FTDR) during the 2nd quarter, Holdings Channel reports. The firm acquired 15,415 shares of the company’s stock, valued at approximately $1,196,000.

A number of other institutional investors also recently made changes to their positions in FTDR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Frontdoor by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock valued at $1,761,000 after buying an additional 1,994 shares during the last quarter. Millennium Management LLC increased its stake in shares of Frontdoor by 533.0% in the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock worth $11,814,000 after buying an additional 258,920 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Frontdoor by 10.5% in the first quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock worth $423,000 after buying an additional 1,044 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Frontdoor by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company’s stock valued at $9,126,000 after acquiring an additional 13,134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Frontdoor by 164.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after acquiring an additional 497 shares during the last quarter.

Wall Street Analyst Weigh In

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

Frontdoor Stock Performance

NASDAQ FTDR opened at $86.47 on Monday. 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 one year low of $48.47 and a one year high of $93.43. The company has a 50-day simple moving average of $75.25 and a 200-day simple moving average of $65.66. The firm has a market capitalization of $5.96 billion, a PE ratio of 22.94 and a beta of 1.47.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Thursday, August 6th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.17. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The company had revenue of $645.00 million during the quarter, compared to the consensus estimate of $643.40 million. During the same period in the previous year, the firm posted $1.63 earnings per share. Frontdoor’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that Frontdoor Inc. will post 4.66 earnings per share for the current year.

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.