JPMorgan Chase & Co. Downgrades Frontdoor (NASDAQ:FTDR) to Neutral

Frontdoor (NASDAQ:FTDR) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $40.00 price target on the stock, down from their previous price target of $58.00. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 1.26% from the company’s previous close.

FTDR has been the topic of a number of other reports. Truist Financial boosted their price objective on shares of Frontdoor from $58.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, February 14th. The Goldman Sachs Group lowered their price objective on shares of Frontdoor from $46.00 to $40.00 and set a “sell” rating for the company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.50.

Frontdoor Trading Up 1.4 %

NASDAQ FTDR opened at $40.51 on Tuesday. The firm has a market cap of $3.02 billion, a PE ratio of 13.41 and a beta of 1.19. Frontdoor has a 1-year low of $30.31 and a 1-year high of $63.49. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16. The stock has a 50-day moving average of $42.30 and a 200-day moving average of $51.22.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Bessemer Group Inc. grew its holdings in Frontdoor by 514.7% in the fourth quarter. Bessemer Group Inc. now owns 627 shares of the company’s stock worth $34,000 after purchasing an additional 525 shares during the period. USA Financial Formulas purchased a new stake in shares of Frontdoor in the 4th quarter worth approximately $60,000. TD Private Client Wealth LLC grew its stake in shares of Frontdoor by 12.9% in the 4th quarter. TD Private Client Wealth LLC now owns 1,597 shares of the company’s stock worth $87,000 after buying an additional 183 shares during the last quarter. Blue Trust Inc. increased its position in Frontdoor by 315.3% during the 4th quarter. Blue Trust Inc. now owns 1,632 shares of the company’s stock valued at $89,000 after buying an additional 1,239 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Frontdoor by 16.5% during the first quarter. GAMMA Investing LLC now owns 2,447 shares of the company’s stock valued at $94,000 after buying an additional 347 shares during the last quarter.

Frontdoor Company Profile

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.