Frontdoor (NASDAQ:FTDR) Sets New 12-Month High – What’s Next?

Shares of Frontdoor Inc. (NASDAQ:FTDR) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $71.76 and last traded at $72.84, with a volume of 1088230 shares trading hands. The stock had previously closed at $71.56.

Wall Street Analysts Forecast Growth

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

Frontdoor Price Performance

The company has a market capitalization of $5.10 billion, a P/E ratio of 20.76 and a beta of 1.50. The business’s 50-day moving average price is $63.39 and its 200 day moving average price is $60.15. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 4.95.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The firm had revenue of $451.00 million for 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 for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Analysts anticipate that Frontdoor Inc. will post 4.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Frontdoor

Several institutional investors and hedge funds have recently modified their holdings of FTDR. Private Trust Co. NA raised its stake in Frontdoor by 256.3% in the fourth quarter. Private Trust Co. NA now owns 563 shares of the company’s stock worth $32,000 after buying an additional 405 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Frontdoor by 164.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after acquiring an additional 497 shares in the last quarter. Quarry LP lifted its stake in shares of Frontdoor by 429.5% in the 3rd quarter. Quarry LP now owns 879 shares of the company’s stock valued at $59,000 after purchasing an additional 713 shares during the period. Global Retirement Partners LLC boosted its position in shares of Frontdoor by 8,376.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock valued at $64,000 after purchasing an additional 1,089 shares in the last quarter. Finally, Huntington National Bank grew its stake in Frontdoor by 18.8% in the fourth quarter. Huntington National Bank now owns 1,723 shares of the company’s stock worth $99,000 after purchasing an additional 273 shares during the period.

Frontdoor Company Profile

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.