Frontdoor (NASDAQ:FTDR) Hits New 1-Year High – Here’s Why

Frontdoor Inc. (NASDAQ:FTDR) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $70.77 and last traded at $68.6580, with a volume of 79985 shares. The stock had previously closed at $68.57.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $70.00 target price on shares of Frontdoor in a research report on Thursday. Wall Street Zen upgraded Frontdoor from a “hold” rating to a “buy” rating in a research note on Saturday. 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 report on Monday, December 29th. Finally, The Goldman Sachs Group upgraded shares of Frontdoor from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $50.00 to $67.00 in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.75.

Frontdoor Price Performance

The company has a market cap of $4.76 billion, a P/E ratio of 19.74 and a beta of 1.31. The stock has a 50-day simple moving average of $58.51 and a 200 day simple moving average of $59.83. The company has a debt-to-equity ratio of 4.73, a quick ratio of 1.55 and a current ratio of 1.55.

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

Institutional Trading of Frontdoor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Frontdoor by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock worth $1,761,000 after purchasing an additional 1,994 shares during the period. Millennium Management LLC raised its holdings in shares of Frontdoor by 533.0% in the 1st quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock worth $11,814,000 after buying an additional 258,920 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Frontdoor by 10.5% during the 1st quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock worth $423,000 after buying an additional 1,044 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Frontdoor by 5.9% during the 1st 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 buying an additional 13,134 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Frontdoor by 6.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 147,721 shares of the company’s stock valued at $8,707,000 after buying an additional 9,075 shares in 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.