Frontdoor (NASDAQ:FTDR) Hits New 1-Year High – Here’s What Happened

Frontdoor Inc. (NASDAQ:FTDR)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $80.09 and last traded at $79.41, with a volume of 700429 shares. The stock had previously closed at $78.50.

Analyst Ratings Changes

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

Frontdoor Stock Down 0.2%

The stock’s fifty day simple moving average is $66.51 and its two-hundred day simple moving average is $61.70. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 22.39 and a beta of 1.46.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $451.00 million during the quarter, compared to the consensus estimate of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, sell-side analysts predict that Frontdoor Inc. will post 4.48 earnings per share for the current fiscal year.

Institutional Trading of Frontdoor

Several hedge funds have recently made changes to their positions in FTDR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Frontdoor by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock worth $1,761,000 after buying an additional 1,994 shares during the period. Millennium Management LLC lifted its stake in Frontdoor by 533.0% in the first quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock valued at $11,814,000 after buying an additional 258,920 shares during the last quarter. Empowered Funds LLC boosted 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 valued at $423,000 after acquiring an additional 1,044 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 valued at $9,126,000 after acquiring an additional 13,134 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Frontdoor by 164.6% during the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after acquiring 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.