Frontdoor, Inc. (NASDAQ:FTDR) Stock Position Lifted by Meritage Portfolio Management

Meritage Portfolio Management grew its holdings in Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 91.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,030 shares of the company's stock after acquiring an additional 8,624 shares during the period. Meritage Portfolio Management's holdings in Frontdoor were worth $865,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC increased its stake in 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 buying an additional 740,711 shares during the period. Swedbank AB increased its stake in Frontdoor by 112.7% during the 2nd quarter. Swedbank AB now owns 1,210,600 shares of the company's stock worth $40,906,000 after buying an additional 641,476 shares during the period. Boston Partners increased its stake 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 period. Invenomic Capital Management LP increased its position in shares of Frontdoor by 57.3% in the 1st quarter. Invenomic Capital Management LP now owns 1,072,445 shares of the company's stock worth $34,940,000 after purchasing an additional 390,610 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Frontdoor by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company's stock worth $331,636,000 after purchasing an additional 373,091 shares during the last quarter.

Frontdoor Price Performance

Shares of NASDAQ:FTDR traded down $0.63 during trading on Monday, reaching $57.76. The company had a trading volume of 493,807 shares, compared to its average volume of 725,680. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.27 and a current ratio of 1.42. The firm's fifty day moving average is $49.81 and its 200 day moving average is $42.25. Frontdoor, Inc. has a twelve month low of $29.41 and a twelve month high of $58.86. The firm has a market capitalization of $4.38 billion, a PE ratio of 19.13 and a beta of 1.03.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Frontdoor from $45.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, August 12th. William Blair raised shares of Frontdoor from a "market perform" rating to an "outperform" rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price target on shares of Frontdoor from $41.00 to $46.00 and gave the stock a "sell" rating in a research note on Tuesday, November 5th. Finally, Truist Financial upped 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $49.50.

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.