Jefferies Financial Group Inc. Makes New Investment in Frontdoor Inc. $FTDR

Jefferies Financial Group Inc. bought a new position in Frontdoor Inc. (NASDAQ:FTDR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,000 shares of the company’s stock, valued at approximately $1,385,000.

A number of other hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC increased its holdings in shares of Frontdoor by 8,376.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock valued at $64,000 after purchasing an additional 1,089 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Frontdoor by 1.7% during the 4th quarter. ProShare Advisors LLC now owns 14,232 shares of the company’s stock valued at $821,000 after purchasing an additional 236 shares in the last quarter. Convergence Investment Partners LLC increased its holdings in shares of Frontdoor by 46.3% during the 4th quarter. Convergence Investment Partners LLC now owns 21,823 shares of the company’s stock valued at $1,259,000 after purchasing an additional 6,902 shares in the last quarter. Versor Investments LP increased its holdings in shares of Frontdoor by 126.7% during the 4th quarter. Versor Investments LP now owns 16,094 shares of the company’s stock valued at $928,000 after purchasing an additional 8,994 shares in the last quarter. Finally, Swiss Life Asset Management Ltd grew its stake in Frontdoor by 103.1% in the 4th quarter. Swiss Life Asset Management Ltd now owns 6,789 shares of the company’s stock valued at $392,000 after acquiring an additional 3,447 shares during the period.

Frontdoor Trading Up 0.2%

NASDAQ FTDR opened at $62.09 on Friday. The firm’s 50-day moving average is $60.14 and its two-hundred day moving average is $58.52. Frontdoor Inc. has a 12 month low of $48.47 and a 12 month high of $70.77. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $4.36 billion, a P/E ratio of 17.79 and a beta of 1.55.

Frontdoor (NASDAQ:FTDR) last posted its earnings results on Thursday, April 30th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $442.28 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. Frontdoor’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Frontdoor Inc. will post 4.48 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on FTDR. Benchmark began coverage on shares of Frontdoor in a report on Thursday, March 26th. They issued a “buy” rating and a $80.00 price target for the company. Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 target price on shares of Frontdoor in a research note on Thursday, February 26th. Weiss Ratings cut shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. Finally, The Goldman Sachs Group raised shares of Frontdoor from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $67.00 in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.60.

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.