Entropy Technologies LP Makes New Investment in Frontdoor, Inc. (NASDAQ:FTDR)

Entropy Technologies LP purchased a new position in shares of Frontdoor, Inc. (NASDAQ:FTDR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,840 shares of the company’s stock, valued at approximately $616,000.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Frontdoor by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company’s stock worth $331,636,000 after buying an additional 373,091 shares during the last quarter. Boston Partners lifted its holdings in Frontdoor by 8.9% during the 1st quarter. Boston Partners now owns 6,198,543 shares of the company’s stock worth $201,662,000 after buying an additional 506,217 shares during the last quarter. Reinhart Partners LLC. lifted its holdings in Frontdoor by 1.8% during the 2nd quarter. Reinhart Partners LLC. now owns 2,330,937 shares of the company’s stock worth $78,762,000 after buying an additional 42,169 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Frontdoor by 8.7% during the second quarter. Victory Capital Management Inc. now owns 2,176,056 shares of the company’s stock worth $73,529,000 after purchasing an additional 173,624 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Frontdoor by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,787,539 shares of the company’s stock worth $60,402,000 after purchasing an additional 89,301 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FTDR shares. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research report on Friday, August 2nd. Truist Financial lifted their target price on Frontdoor from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group lifted their target price on Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.50.

Frontdoor Stock Performance

Shares of FTDR stock opened at $55.56 on Friday. The stock has a market capitalization of $4.21 billion, a PE ratio of 18.40 and a beta of 1.03. Frontdoor, Inc. has a 52-week low of $29.41 and a 52-week high of $58.86. The stock’s 50-day moving average price is $50.31 and its 200 day moving average price is $42.62. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.33. The firm had revenue of $540.00 million for the quarter, compared to analysts’ expectations of $541.88 million. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, equities research analysts forecast that Frontdoor, Inc. will post 3.14 EPS for the current year.

Frontdoor Company Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company’s home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.