Frontdoor (NASDAQ:FTDR) Reaches New 12-Month High – What’s Next?

Frontdoor Inc. (NASDAQ:FTDR) hit a new 52-week high during trading on Monday . The stock traded as high as $75.96 and last traded at $74.2090, with a volume of 1980486 shares trading hands. The stock had previously closed at $74.73.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Benchmark began coverage on shares of Frontdoor in a research note on Thursday, March 26th. They issued a “buy” rating and a $80.00 price objective on the stock. Weiss Ratings downgraded shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 21st. Finally, Wall Street Zen lowered shares of Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Frontdoor presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Frontdoor Trading Up 2.1%

The company has a 50 day simple moving average of $65.50 and a 200 day simple moving average of $61.20. The company has a debt-to-equity ratio of 4.95, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $5.45 billion, a PE ratio of 22.23 and a beta of 1.50.

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

Institutional Investors Weigh In On Frontdoor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners raised its position in shares of Frontdoor by 8.5% in the fourth quarter. Boston Partners now owns 5,777,252 shares of the company’s stock valued at $333,742,000 after buying an additional 454,040 shares during the last quarter. Marshall Wace LLP acquired a new position in Frontdoor during the third quarter worth about $23,871,000. Reinhart Partners LLC. boosted its position in Frontdoor by 25.6% during the fourth quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company’s stock worth $93,987,000 after acquiring an additional 332,556 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Frontdoor by 309.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company’s stock valued at $25,429,000 after acquiring an additional 326,112 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Frontdoor by 791.6% during the 1st quarter. Empowered Funds LLC now owns 359,360 shares of the company’s stock valued at $18,996,000 after acquiring an additional 319,053 shares in 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.