Frontdoor Inc. (NASDAQ:FTDR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Frontdoor Inc. (NASDAQ:FTDR) has been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $92.00.

A number of equities research analysts recently commented on FTDR shares. Oppenheimer raised their price objective on shares of Frontdoor from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. The Goldman Sachs Group restated a “neutral” rating on shares of Frontdoor in a report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Frontdoor in a research report on Tuesday, August 18th. Benchmark upped their target price on Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Truist Financial increased their price target on Frontdoor from $82.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, August 7th.

Frontdoor Price Performance

Shares of FTDR stock opened at $82.59 on Monday. Frontdoor has a 52-week low of $48.47 and a 52-week high of $93.43. The stock has a market cap of $5.69 billion, a PE ratio of 21.91 and a beta of 1.47. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.59 and a current ratio of 1.59. The firm’s 50 day moving average price is $76.86 and its two-hundred day moving average price is $66.49.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Thursday, August 6th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.17. The firm had revenue of $645.00 million during the quarter, compared to analyst estimates of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. As a group, analysts forecast that Frontdoor will post 4.66 EPS for the current year.

Hedge Funds Weigh In On Frontdoor

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Frontdoor during the 2nd quarter worth approximately $859,552,000. California State Teachers Retirement System boosted its position in Frontdoor by 7,470.6% during the second quarter. California State Teachers Retirement System now owns 6,273,462 shares of the company’s stock worth $486,758,000 after purchasing an additional 6,190,596 shares during the period. Jupiter Topco LLC bought a new position in Frontdoor during the second quarter worth $113,873,000. Bank of America Corp DE acquired a new position in shares of Frontdoor in the second quarter valued at $46,580,000. Finally, Boston Partners increased its holdings 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 purchasing an additional 454,040 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.