Frontdoor (NASDAQ:FTDR) Downgraded to Hold Rating by Wall Street Zen

Frontdoor (NASDAQ:FTDR) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Several other analysts have also weighed in on the company. The Goldman Sachs Group raised Frontdoor from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $50.00 to $67.00 in a report on Monday, March 2nd. Truist Financial set a $71.00 target price on Frontdoor in a report on Monday, January 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target on shares of Frontdoor in a report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $65.75.

Frontdoor Price Performance

Shares of FTDR stock opened at $66.59 on Friday. The firm has a fifty day moving average of $59.49 and a two-hundred day moving average of $60.12. The firm has a market cap of $4.70 billion, a P/E ratio of 19.53 and a beta of 1.31. Frontdoor has a 1-year low of $35.61 and a 1-year high of $70.77. The company has a debt-to-equity ratio of 4.73, a current ratio of 1.55 and a quick ratio of 1.55.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Thursday, February 26th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. Frontdoor had a net margin of 12.18% and a return on equity of 120.79%. The business had revenue of $433.00 million for the quarter, compared to analyst estimates of $421.62 million. During the same quarter in the prior year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, research analysts anticipate that Frontdoor will post 3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontdoor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC acquired a new stake in shares of Frontdoor during the 3rd quarter worth approximately $35,000. Private Trust Co. NA boosted its position in Frontdoor by 256.3% during the 4th quarter. Private Trust Co. NA now owns 563 shares of the company’s stock valued at $32,000 after purchasing an additional 405 shares during the period. EverSource Wealth Advisors LLC boosted its position in Frontdoor by 164.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after purchasing an additional 497 shares during the period. Quarry LP grew its stake in Frontdoor by 429.5% during the 3rd quarter. Quarry LP now owns 879 shares of the company’s stock worth $59,000 after buying an additional 713 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in Frontdoor by 8,376.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock worth $64,000 after buying an additional 1,089 shares during the last quarter.

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.