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

Entropy Technologies LP acquired a new stake in Frontdoor, Inc. (NASDAQ:FTDR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,840 shares of the company’s stock, valued at approximately $616,000.

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

Wall Street Analyst Weigh In

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

Frontdoor Price Performance

NASDAQ:FTDR opened at $55.56 on Friday. Frontdoor, Inc. has a one year low of $29.41 and a one year high of $58.86. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $4.21 billion, a PE ratio of 18.40 and a beta of 1.03. The stock has a 50 day moving average price of $50.31 and a 200 day moving average price of $42.62.

Frontdoor (NASDAQ:FTDR) last posted its earnings results 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 company had revenue of $540.00 million during the quarter, compared to analysts’ expectations of $541.88 million. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities research analysts expect that Frontdoor, Inc. will post 3.14 EPS 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.