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

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 10.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 174,685 shares of the company’s stock after acquiring an additional 17,166 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Frontdoor were worth $8,383,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co raised its holdings in shares of Frontdoor by 2.5% during the third quarter. Diversified Trust Co now owns 12,130 shares of the company’s stock valued at $582,000 after acquiring an additional 299 shares in the last quarter. Tidal Investments LLC increased its position 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. CWM LLC raised its holdings in Frontdoor by 15.8% in the 3rd quarter. CWM LLC now owns 2,695 shares of the company’s stock worth $129,000 after purchasing an additional 367 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of 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 during the period. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Frontdoor during the 3rd quarter valued at about $27,000.

Analyst Ratings Changes

A number of research firms recently issued reports on FTDR. JPMorgan Chase & Co. increased their price target on shares of Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. William Blair raised Frontdoor from a “market perform” rating to an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Finally, Truist Financial increased their price objective on Frontdoor from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research 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. Based on data from MarketBeat, Frontdoor currently has a consensus rating of “Hold” and an average price target of $49.50.

Frontdoor Price Performance

FTDR stock opened at $58.46 on Friday. 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 firm has a 50 day moving average price of $51.09 and a 200-day moving average price of $43.42. Frontdoor, Inc. has a 52-week low of $29.41 and a 52-week high of $59.01. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 19.36 and a beta of 1.03.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.33. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The business had revenue of $540.00 million during the quarter, compared to analysts’ expectations of $541.88 million. During the same quarter in the previous year, the business 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 forecast that Frontdoor, Inc. will post 3.14 EPS for the current fiscal year.

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.