Canada Pension Plan Investment Board Makes New Investment in Frontdoor, Inc. (NASDAQ:FTDR)

Canada Pension Plan Investment Board acquired a new stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 58,300 shares of the company’s stock, valued at approximately $1,970,000. Canada Pension Plan Investment Board owned approximately 0.07% of Frontdoor as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FTDR. Illinois Municipal Retirement Fund raised its holdings in Frontdoor by 0.7% during the first quarter. Illinois Municipal Retirement Fund now owns 46,552 shares of the company’s stock valued at $1,517,000 after acquiring an additional 321 shares during the period. Tidal Investments LLC raised its stake in Frontdoor by 2.2% during the 1st quarter. Tidal Investments LLC now owns 15,740 shares of the company’s stock valued at $513,000 after purchasing an additional 344 shares during the period. GAMMA Investing LLC lifted its holdings in Frontdoor by 90.7% in the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock worth $30,000 after purchasing an additional 418 shares in the last quarter. Isthmus Partners LLC boosted its stake in Frontdoor by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 110,249 shares of the company’s stock worth $37,000 after purchasing an additional 603 shares during the period. Finally, Covestor Ltd grew its holdings in Frontdoor by 288.6% during the 1st quarter. Covestor Ltd now owns 1,154 shares of the company’s stock valued at $38,000 after buying an additional 857 shares in the last quarter.

Frontdoor Stock Performance

Frontdoor stock opened at $48.35 on Friday. The company’s 50-day moving average price is $45.47 and its 200-day moving average price is $37.71. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.66. The company has a market cap of $3.70 billion, a PE ratio of 21.21 and a beta of 1.04. Frontdoor, Inc. has a twelve month low of $28.25 and a twelve month high of $49.43.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.27. Frontdoor had a return on equity of 132.94% and a net margin of 11.38%. The company had revenue of $542.00 million for the quarter, compared to analysts’ expectations of $536.74 million. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, equities research analysts forecast that Frontdoor, Inc. will post 2.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FTDR. JPMorgan Chase & Co. upped their target price 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 increased their price objective on shares of Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a report on Friday, August 2nd. William Blair raised Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial increased their price target on Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $47.75.

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.