Frontdoor Inc. $FTDR Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in shares of Frontdoor Inc. (NASDAQ:FTDR) by 12.3% during the fourth quarter, Holdings Channel reports. The firm owned 240,603 shares of the company’s stock after selling 33,804 shares during the quarter. Nordea Investment Management AB’s holdings in Frontdoor were worth $13,945,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FTDR. Invesco Ltd. boosted its position in shares of Frontdoor by 2.5% in the 3rd quarter. Invesco Ltd. now owns 1,108,815 shares of the company’s stock valued at $74,612,000 after purchasing an additional 27,410 shares during the period. Wasatch Advisors LP raised its holdings in Frontdoor by 2.7% during the 3rd quarter. Wasatch Advisors LP now owns 968,286 shares of the company’s stock worth $65,156,000 after buying an additional 25,613 shares during the period. Broad Bay Capital Management LP acquired a new stake in Frontdoor during the 2nd quarter worth about $46,886,000. Bank of America Corp DE lifted its stake in Frontdoor by 4.7% during the second quarter. Bank of America Corp DE now owns 699,289 shares of the company’s stock valued at $41,216,000 after buying an additional 31,087 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Frontdoor by 18.4% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 627,791 shares of the company’s stock worth $42,244,000 after buying an additional 97,565 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FTDR shares. Oppenheimer reissued an “outperform” rating and issued a $70.00 target price on shares of Frontdoor in a research report on Thursday, February 26th. The Goldman Sachs Group upgraded shares of Frontdoor from a “sell” rating to a “neutral” rating and upped their price target for the company from $50.00 to $67.00 in a research report on Monday, March 2nd. Truist Financial set a $71.00 price objective on shares of Frontdoor in a research note on Monday, January 26th. Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Weiss Ratings raised shares of Frontdoor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Frontdoor presently has an average rating of “Moderate Buy” and an average target price of $65.75.

Frontdoor Trading Up 1.1%

Shares of NASDAQ FTDR opened at $59.25 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 4.73. Frontdoor Inc. has a one year low of $35.61 and a one year high of $70.77. The business has a 50-day moving average price of $60.21 and a two-hundred day moving average price of $60.19. The firm has a market capitalization of $4.18 billion, a PE ratio of 17.38 and a beta of 1.31.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Thursday, February 26th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. The company had revenue of $433.00 million for the quarter, compared to the consensus estimate of $421.62 million. Frontdoor had a return on equity of 120.79% and a net margin of 12.18%.The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. As a group, analysts predict 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.