Frontdoor Inc. (NASDAQ:FTDR) Receives $68.60 Average Target Price from Analysts

Frontdoor Inc. (NASDAQ:FTDR) has earned an average recommendation of “Moderate Buy” from 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 assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $68.60.

Several research firms have recently weighed in on FTDR. Weiss Ratings raised Frontdoor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. The Goldman Sachs Group raised Frontdoor from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $50.00 to $67.00 in a research report on Monday, March 2nd. Truist Financial set a $71.00 price objective on Frontdoor in a research report on Monday, January 26th. Finally, Benchmark began coverage on Frontdoor in a research report on Thursday, March 26th. They issued a “buy” rating and a $80.00 price objective for the company.

Frontdoor Stock Up 1.7%

Shares of NASDAQ:FTDR opened at $63.05 on Friday. The firm has a market cap of $4.43 billion, a P/E ratio of 18.07 and a beta of 1.55. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 4.95. Frontdoor has a 12-month low of $48.47 and a 12-month high of $70.77. The business has a fifty day simple moving average of $60.41 and a 200 day simple moving average of $58.40.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. The business had revenue of $451.00 million during the quarter, compared to analyst estimates of $442.28 million. Frontdoor had a return on equity of 118.62% and a net margin of 12.22%.Frontdoor’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. Analysts predict that Frontdoor will post 4.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Boston Partners raised its position in shares of Frontdoor by 8.5% in the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock worth $333,742,000 after acquiring an additional 454,040 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Frontdoor by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,887,029 shares of the company’s stock worth $108,879,000 after acquiring an additional 27,237 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Frontdoor by 1.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,849,787 shares of the company’s stock worth $97,780,000 after acquiring an additional 23,800 shares in the last quarter. Reinhart Partners LLC. grew its stake in shares of Frontdoor by 25.6% in the 4th quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company’s stock valued at $93,987,000 after buying an additional 332,556 shares during the period. Finally, Morgan Stanley grew its stake in shares of Frontdoor by 11.5% in the 4th quarter. Morgan Stanley now owns 1,485,123 shares of the company’s stock valued at $85,677,000 after buying an additional 153,138 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.