Analysts Set Frontdoor Inc. (NASDAQ:FTDR) PT at $59.75

Shares of Frontdoor Inc. (NASDAQ:FTDR) have received an average rating of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $59.75.

FTDR has been the topic of a number of research analyst reports. Zacks Research cut Frontdoor from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frontdoor in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a report on Monday, November 24th.

Institutional Investors Weigh In On Frontdoor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTDR. Broad Bay Capital Management LP purchased a new stake in shares of Frontdoor in the 2nd quarter valued at $46,886,000. Eventide Asset Management LLC acquired a new position in Frontdoor during the second quarter valued at $28,506,000. Marshall Wace LLP purchased a new stake in Frontdoor in the third quarter valued at $23,871,000. Cubist Systematic Strategies LLC boosted its holdings in Frontdoor by 309.6% in the second quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company’s stock valued at $25,429,000 after purchasing an additional 326,112 shares during the last quarter. Finally, Millennium Management LLC grew its position in Frontdoor by 533.0% during the 1st quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock worth $11,814,000 after purchasing an additional 258,920 shares during the period.

Frontdoor Stock Performance

NASDAQ FTDR opened at $59.78 on Friday. The business has a 50-day moving average price of $55.31 and a 200-day moving average price of $59.77. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 17.03 and a beta of 1.31. Frontdoor has a twelve month low of $35.61 and a twelve month high of $70.14. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 3.64.

Frontdoor (NASDAQ:FTDR) last posted its earnings results on Wednesday, November 5th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. Frontdoor had a return on equity of 122.74% and a net margin of 12.87%.The firm had revenue of $618.00 million during the quarter, compared to the consensus estimate of $610.77 million. During the same period in the prior year, the company earned $1.38 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, equities research analysts predict that Frontdoor will post 3.07 EPS for the current fiscal year.

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.