Choreo LLC Acquires Shares of 18,893 Frontdoor, Inc. (NASDAQ:FTDR)

Choreo LLC bought a new stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,893 shares of the company’s stock, valued at approximately $631,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis Advisors L.P. bought a new stake in Frontdoor during the fourth quarter worth about $415,000. Charles Schwab Investment Management Inc. boosted its position in shares of Frontdoor by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 891,674 shares of the company’s stock worth $31,405,000 after purchasing an additional 46,038 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Frontdoor by 7.5% in the 4th quarter. BNP Paribas Financial Markets now owns 175,755 shares of the company’s stock worth $6,190,000 after buying an additional 12,248 shares during the last quarter. QRG Capital Management Inc. increased its position in Frontdoor by 14.4% during the 4th quarter. QRG Capital Management Inc. now owns 7,901 shares of the company’s stock valued at $278,000 after buying an additional 996 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Frontdoor by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,636,936 shares of the company’s stock valued at $57,653,000 after buying an additional 24,098 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Truist Financial lifted their target price on shares of Frontdoor from $45.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, William Blair upgraded shares of Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.75.

Frontdoor Stock Performance

FTDR stock opened at $47.75 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. Frontdoor, Inc. has a 1 year low of $28.25 and a 1 year high of $49.21. The company has a market cap of $3.71 billion, a P/E ratio of 20.94 and a beta of 1.04. The stock’s fifty day moving average price is $43.13 and its 200-day moving average price is $36.66.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.27. Frontdoor had a return on equity of 132.94% and a net margin of 11.38%. The business had revenue of $542.00 million for the quarter, compared to analysts’ expectations of $536.74 million. During the same period last year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts forecast that Frontdoor, Inc. will post 2.79 earnings per share for the current year.

About Frontdoor

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company’s home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.