Frontdoor (NASDAQ:FTDR) Trading Down 6% – Here’s Why

Frontdoor Inc. (NASDAQ:FTDR) fell 6% on Monday . The company traded as low as $87.05 and last traded at $85.35. 72,141 shares changed hands during trading, a decline of 88% from the average session volume of 613,329 shares. The stock had previously closed at $90.83.

Analyst Ratings Changes

FTDR has been the topic of several research analyst reports. The Goldman Sachs Group restated a “neutral” rating on shares of Frontdoor in a report on Friday. Benchmark increased their target price on shares of Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday. Oppenheimer lifted their price target on shares of Frontdoor from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings downgraded shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. Finally, Truist Financial upped their price objective on shares of Frontdoor from $82.00 to $105.00 and gave the stock a “buy” rating in a report on Friday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Frontdoor Stock Performance

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.98. The firm has a 50-day moving average price of $72.99 and a 200 day moving average price of $64.76. The firm has a market capitalization of $6.03 billion, a PE ratio of 22.73 and a beta of 1.47.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.17. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The firm had revenue of $645.00 million for the quarter, compared to the consensus estimate of $643.40 million. During the same quarter in the previous year, the business earned $1.63 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts expect that Frontdoor Inc. will post 4.66 earnings per share for the current year.

Institutional Trading of Frontdoor

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Frontdoor by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock worth $1,761,000 after buying an additional 1,994 shares during the period. Millennium Management LLC grew its stake in shares of Frontdoor by 533.0% in the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock worth $11,814,000 after acquiring an additional 258,920 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Frontdoor by 10.5% in the first quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock worth $423,000 after acquiring an additional 1,044 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Frontdoor by 5.9% during 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 worth $9,126,000 after acquiring an additional 13,134 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Frontdoor by 164.6% during the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after acquiring an additional 497 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.