Entropy Technologies LP Purchases New Position in Frontdoor, Inc. (NASDAQ:FTDR)

Entropy Technologies LP acquired a new position in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,840 shares of the company's stock, valued at approximately $616,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in shares of Frontdoor by 440.4% during the 2nd quarter. Millennium Management LLC now owns 908,904 shares of the company's stock worth $30,712,000 after purchasing an additional 740,711 shares during the last quarter. Swedbank AB raised its stake in shares of Frontdoor by 112.7% in the 2nd quarter. Swedbank AB now owns 1,210,600 shares of the company's stock valued at $40,906,000 after acquiring an additional 641,476 shares during the period. Boston Partners lifted its stake in shares of Frontdoor by 8.9% during the first quarter. Boston Partners now owns 6,198,543 shares of the company's stock worth $201,662,000 after purchasing an additional 506,217 shares in the last quarter. Invenomic Capital Management LP grew its position in Frontdoor by 57.3% in the first quarter. Invenomic Capital Management LP now owns 1,072,445 shares of the company's stock valued at $34,940,000 after acquiring an additional 390,610 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake 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 period.

Analysts Set New Price Targets

FTDR has been the subject of a number of research analyst reports. Truist Financial lifted their price target on shares of Frontdoor from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of Frontdoor from $45.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, August 12th. The Goldman Sachs Group upped their price objective on Frontdoor from $41.00 to $46.00 and gave the company a "sell" rating in a research note on Tuesday, November 5th. Finally, William Blair upgraded Frontdoor from a "market perform" rating to an "outperform" rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Frontdoor presently has an average rating of "Hold" and an average price target of $49.50.

Frontdoor Trading Down 1.2 %

Shares of NASDAQ FTDR traded down $0.69 during mid-day trading on Friday, hitting $54.87. 397,512 shares of the company traded hands, compared to its average volume of 720,329. The business has a 50 day moving average of $50.31 and a two-hundred day moving average of $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, Inc. has a 1 year low of $29.41 and a 1 year high of $58.86. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 18.40 and a beta of 1.03.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.33. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The firm had revenue of $540.00 million during the quarter, compared to the consensus estimate of $541.88 million. During the same period in the prior year, the business earned $0.94 EPS. The business's revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Frontdoor, Inc. will post 3.14 earnings per share for the current fiscal 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.