Convergence Investment Partners LLC Takes Position in Frontdoor Inc. $FTDR

Convergence Investment Partners LLC acquired a new stake in Frontdoor Inc. (NASDAQ:FTDR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 14,921 shares of the company’s stock, valued at approximately $1,004,000.

Several other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of Frontdoor by 322.1% during the second quarter. Bessemer Group Inc. now owns 515 shares of the company’s stock worth $30,000 after purchasing an additional 393 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Frontdoor in the 3rd quarter valued at about $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of Frontdoor by 164.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after buying an additional 497 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of Frontdoor during the second quarter worth about $72,000. Finally, Huntington National Bank lifted its stake in Frontdoor by 56.0% in the second quarter. Huntington National Bank now owns 1,482 shares of the company’s stock worth $87,000 after acquiring an additional 532 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FTDR. Zacks Research downgraded shares of Frontdoor from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Wall Street Zen downgraded Frontdoor from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Truist Financial set a $71.00 price objective on Frontdoor in a research note on Monday, January 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.75.

Frontdoor Trading Down 1.2%

NASDAQ:FTDR opened at $58.39 on Tuesday. The company has a debt-to-equity ratio of 3.64, a quick ratio of 1.73 and a current ratio of 1.73. Frontdoor Inc. has a 1 year low of $35.61 and a 1 year high of $70.14. The stock has a fifty day moving average price of $57.19 and a two-hundred day moving average price of $59.84. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 16.63 and a beta of 1.33.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Wednesday, November 5th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.09. The company had revenue of $618.00 million for the quarter, compared to analyst estimates of $610.77 million. Frontdoor had a net margin of 12.87% and a return on equity of 122.74%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 earnings per share. As a group, sell-side analysts anticipate that Frontdoor Inc. will post 3.07 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.