Frontdoor, Inc. (NASDAQ:FTDR) Stock Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 387,967 shares of the company's stock after selling 30,747 shares during the period. Principal Financial Group Inc. owned 0.50% of Frontdoor worth $18,619,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC acquired a new stake in shares of Frontdoor in the third quarter worth $27,000. GAMMA Investing LLC raised its position in Frontdoor by 90.7% in the second quarter. GAMMA Investing LLC now owns 879 shares of the company's stock valued at $30,000 after purchasing an additional 418 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Frontdoor during the third quarter worth about $31,000. Isthmus Partners LLC boosted its position in shares of Frontdoor by 0.5% in the second quarter. Isthmus Partners LLC now owns 110,249 shares of the company's stock worth $37,000 after buying an additional 603 shares during the period. Finally, Quarry LP grew its stake in shares of Frontdoor by 468.1% in the second quarter. Quarry LP now owns 1,085 shares of the company's stock valued at $37,000 after buying an additional 894 shares in the last quarter.

Analysts Set New Price Targets

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

Frontdoor Stock Down 1.2 %

FTDR stock traded down $0.69 during mid-day trading on Friday, hitting $54.87. 397,512 shares of the company were exchanged, compared to its average volume of 720,329. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16. Frontdoor, Inc. has a twelve month low of $29.41 and a twelve month high of $58.86. The firm has a fifty day simple moving average of $50.46 and a 200 day simple moving average of $42.78. The company has a market capitalization of $4.16 billion, a PE ratio of 18.17 and a beta of 1.03.

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