Frontdoor (NASDAQ:FTDR) Sets New 52-Week High – Should You Buy?

Frontdoor Inc. (NASDAQ:FTDR) reached a new 52-week high on Monday . The company traded as high as $71.63 and last traded at $71.2240, with a volume of 104570 shares traded. The stock had previously closed at $68.83.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Benchmark assumed coverage on Frontdoor in a research note on Thursday, March 26th. They issued a “buy” rating and a $80.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Frontdoor in a research note on Thursday, February 26th. Weiss Ratings lowered Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. The Goldman Sachs Group raised Frontdoor from a “sell” rating to a “neutral” rating and increased their price target for the company from $50.00 to $67.00 in a research note on Monday, March 2nd. Finally, Wall Street Zen lowered Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Frontdoor has an average rating of “Moderate Buy” and an average price target of $72.00.

Frontdoor Price Performance

The firm has a market capitalization of $4.88 billion, a P/E ratio of 19.91 and a beta of 1.50. The firm has a 50 day moving average price of $61.90 and a 200-day moving average price of $59.57. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.95.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The firm had revenue of $451.00 million during the quarter, compared to analyst estimates of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, analysts expect that Frontdoor Inc. will post 4.48 earnings per share for the current year.

Institutional Trading of Frontdoor

A number of hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Frontdoor by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock worth $1,761,000 after purchasing an additional 1,994 shares in the last quarter. Millennium Management LLC boosted its position in Frontdoor by 533.0% during the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock worth $11,814,000 after purchasing an additional 258,920 shares in the last quarter. Empowered Funds LLC boosted its position in Frontdoor by 10.5% during the first quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock worth $423,000 after purchasing an additional 1,044 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Frontdoor by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company’s stock valued at $9,126,000 after acquiring an additional 13,134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Frontdoor by 164.6% in the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after acquiring an additional 497 shares in the last quarter.

About Frontdoor

Frontdoor, Inc (NASDAQ:FTDR) is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.