Brokerages Set Frontdoor Inc. (NASDAQ:FTDR) PT at $72.00

Shares of Frontdoor Inc. (NASDAQ:FTDR) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $72.00.

Several research analysts have weighed in on FTDR shares. The Goldman Sachs Group upgraded Frontdoor from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $67.00 in a report on Monday, March 2nd. Weiss Ratings downgraded Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. Benchmark began coverage on Frontdoor in a report on Thursday, March 26th. They set a “buy” rating and a $80.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective on shares of Frontdoor in a research report on Thursday, February 26th. Finally, Wall Street Zen cut Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th.

Frontdoor Price Performance

Shares of NASDAQ:FTDR opened at $68.83 on Wednesday. Frontdoor has a 52 week low of $48.47 and a 52 week high of $70.77. 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 $4.83 billion, a PE ratio of 19.72 and a beta of 1.50. The company has a 50 day moving average price of $61.90 and a two-hundred day moving average price of $59.57.

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

Institutional Investors Weigh In On Frontdoor

Several institutional investors have recently added to or reduced their stakes in FTDR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Frontdoor by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock valued at $1,761,000 after purchasing an additional 1,994 shares during the period. Millennium Management LLC boosted its position in shares of Frontdoor by 533.0% during the first 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 during the period. Empowered Funds LLC grew its holdings in shares of Frontdoor by 10.5% during the first quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock worth $423,000 after buying an additional 1,044 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Frontdoor by 5.9% during the first 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 in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Frontdoor by 164.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after buying an additional 497 shares during 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.