JPMorgan Chase & Co. Acquires 47,587 Shares of Frontdoor Inc. $FTDR

JPMorgan Chase & Co. raised its holdings in Frontdoor Inc. (NASDAQ:FTDR) by 26.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,385 shares of the company’s stock after purchasing an additional 47,587 shares during the period. JPMorgan Chase & Co. owned 0.31% of Frontdoor worth $15,166,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in Frontdoor in the 3rd quarter valued at approximately $35,000. Bessemer Group Inc. boosted its holdings in shares of Frontdoor by 322.1% in the second quarter. Bessemer Group Inc. now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 393 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Frontdoor by 164.6% in the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after purchasing an additional 497 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Frontdoor during the 2nd quarter worth about $72,000. Finally, LSV Asset Management purchased a new stake in Frontdoor during the 3rd quarter worth about $87,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FTDR shares. The Goldman Sachs Group upgraded 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frontdoor in a report on Monday, December 29th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 target price on shares of Frontdoor in a research note on Thursday, February 26th. Truist Financial set a $71.00 price target on shares of Frontdoor in a report on Monday, January 26th. Finally, Wall Street Zen raised shares of Frontdoor from a “hold” rating to a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.75.

Frontdoor Price Performance

FTDR stock opened at $69.11 on Wednesday. The firm has a 50 day simple moving average of $58.92 and a two-hundred day simple moving average of $59.96. The stock has a market cap of $4.88 billion, a PE ratio of 20.27 and a beta of 1.31. Frontdoor Inc. has a one year low of $35.61 and a one year high of $70.77. The company has a debt-to-equity ratio of 4.73, a current ratio of 1.55 and a quick ratio of 1.55.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. Frontdoor had a net margin of 12.18% and a return on equity of 120.79%. The company had revenue of $433.00 million during the quarter, compared to the consensus estimate of $421.62 million. During the same period in the previous year, the firm posted $0.27 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, analysts predict that Frontdoor Inc. will post 3.07 EPS for the current fiscal 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.