Oppenheimer Asset Management Inc. Increases Stock Position in Frontdoor Inc (NASDAQ:FTDR)

Oppenheimer Asset Management Inc. raised its position in shares of Frontdoor Inc (NASDAQ:FTDR) by 5.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,044 shares of the company’s stock after purchasing an additional 293 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Frontdoor were worth $264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its position in shares of Frontdoor by 3.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 673,709 shares of the company’s stock worth $29,340,000 after purchasing an additional 20,900 shares during the period. Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Frontdoor in the 2nd quarter worth about $1,431,000. Xact Kapitalforvaltning AB lifted its position in shares of Frontdoor by 41.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 11,900 shares of the company’s stock worth $518,000 after purchasing an additional 3,500 shares during the period. Shell Asset Management Co. purchased a new stake in shares of Frontdoor in the 1st quarter worth about $297,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Frontdoor by 55.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 323,073 shares of the company’s stock worth $14,066,000 after acquiring an additional 114,708 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

FTDR has been the subject of several research reports. Buckingham Research lowered shares of Frontdoor from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research note on Wednesday, July 31st. Raymond James increased their price target on shares of Frontdoor from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Zacks Investment Research upgraded shares of Frontdoor from a “hold” rating to a “strong-buy” rating and set a $58.00 price target for the company in a research note on Saturday, August 10th. Guggenheim increased their price target on shares of Frontdoor from $43.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, Oppenheimer increased their price target on shares of Frontdoor from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.30.

NASDAQ:FTDR traded up $0.66 on Friday, reaching $51.94. 3,670 shares of the stock traded hands, compared to its average volume of 517,584. The company has a market capitalization of $4.12 billion and a price-to-earnings ratio of 29.25. Frontdoor Inc has a 12 month low of $20.66 and a 12 month high of $53.29. The company’s fifty day simple moving average is $49.10 and its 200 day simple moving average is $41.08.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.23. The business had revenue of $388.00 million during the quarter, compared to analyst estimates of $387.49 million. Frontdoor had a net margin of 10.57% and a negative return on equity of 44.16%. Frontdoor’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. As a group, research analysts predict that Frontdoor Inc will post 1.84 EPS for the current fiscal year.

Frontdoor Company Profile

frontdoor, inc. provides home service plans in the United States. The company's home service plans cover the repair or replacement of components of up to 21 household systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as central heating, ventilation and air conditioning systems.

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Institutional Ownership by Quarter for Frontdoor (NASDAQ:FTDR)

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