Brokerages Set Frontdoor Inc. (NASDAQ:FTDR) PT at $68.60

Shares of Frontdoor Inc. (NASDAQ:FTDR) have been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $68.60.

Several research firms recently commented on FTDR. Wall Street Zen downgraded Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Benchmark began 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. Truist Financial set a $71.00 price objective on Frontdoor in a research note on Monday, January 26th. The Goldman Sachs Group raised 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 research note on Monday, March 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Frontdoor in a research note on Thursday, February 26th.

Frontdoor Stock Up 0.6%

NASDAQ FTDR opened at $60.91 on Tuesday. The business has a fifty day moving average price of $59.74 and a 200 day moving average price of $58.87. Frontdoor has a one year low of $40.00 and a one year high of $70.77. The company has a debt-to-equity ratio of 4.73, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market cap of $4.30 billion, a P/E ratio of 17.86 and a beta of 1.41.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.11 by $0.12. Frontdoor had a return on equity of 120.79% and a net margin of 12.18%.The firm had revenue of $433.00 million during the quarter, compared to the consensus estimate of $421.62 million. During the same period in the prior year, the company earned $0.27 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. Research analysts anticipate that Frontdoor will post 4.3 EPS for the current fiscal year.

Institutional Trading of Frontdoor

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Frontdoor by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 225,385 shares of the company’s stock worth $15,166,000 after acquiring an additional 47,587 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Frontdoor by 11.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 316,564 shares of the company’s stock worth $21,302,000 after purchasing an additional 33,261 shares during the last quarter. Prana Capital Management LP acquired a new stake in shares of Frontdoor during the 3rd quarter worth about $1,762,000. Algert Global LLC increased its position in shares of Frontdoor by 24.5% during the 3rd quarter. Algert Global LLC now owns 260,233 shares of the company’s stock worth $17,511,000 after purchasing an additional 51,214 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Frontdoor by 112.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 80,069 shares of the company’s stock worth $4,619,000 after purchasing an additional 42,462 shares during 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.