Connor Clark & Lunn Investment Management Ltd. Purchases 17,166 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 10.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,685 shares of the company’s stock after purchasing an additional 17,166 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.23% of Frontdoor worth $8,383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTDR. Exchange Traded Concepts LLC purchased a new stake in shares of Frontdoor during the 3rd quarter valued at approximately $27,000. GAMMA Investing LLC lifted its position in shares of Frontdoor by 90.7% during the second quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock worth $30,000 after acquiring an additional 418 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Frontdoor in the third quarter worth $31,000. Isthmus Partners LLC grew 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 valued at $37,000 after purchasing an additional 603 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Frontdoor by 468.1% during the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock valued at $37,000 after purchasing an additional 894 shares during the period.

Frontdoor Stock Up 1.8 %

FTDR stock opened at $58.46 on Friday. 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 1-year low of $29.41 and a 1-year high of $59.01. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 19.36 and a beta of 1.03. The company’s 50 day moving average is $51.09 and its 200 day moving average is $43.42.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.33. The company had revenue of $540.00 million during the quarter, compared to the consensus estimate of $541.88 million. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 EPS. Sell-side analysts predict that Frontdoor, Inc. will post 3.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Frontdoor

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.