Frontdoor (NASDAQ:FTDR) Hits New 52-Week High – Still a Buy?

Frontdoor Inc. (NASDAQ:FTDR)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $70.77 and last traded at $68.6580, with a volume of 79985 shares. The stock had previously closed at $68.57.

Wall Street Analysts Forecast Growth

FTDR has been the topic of a number of recent research reports. 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. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Frontdoor in a research note on Thursday. Wall Street Zen raised shares of Frontdoor from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Finally, Truist Financial set a $71.00 price objective on shares of Frontdoor in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.75.

Frontdoor Trading Down 1.7%

The company has a fifty day moving average of $58.51 and a 200-day moving average of $59.83. The company has a debt-to-equity ratio of 4.73, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $4.76 billion, a PE ratio of 19.74 and a beta of 1.31.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. The company had revenue of $433.00 million during the quarter, compared to the consensus estimate of $421.62 million. Frontdoor had a return on equity of 120.79% and a net margin of 12.18%.The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. On average, sell-side analysts anticipate that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Frontdoor

Several institutional investors and hedge funds have recently modified their holdings of FTDR. Bessemer Group Inc. raised its holdings in Frontdoor by 322.1% during the second quarter. Bessemer Group Inc. now owns 515 shares of the company’s stock valued at $30,000 after buying an additional 393 shares in the last quarter. Private Trust Co. NA lifted its holdings in Frontdoor by 256.3% in the 4th quarter. Private Trust Co. NA now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 405 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in Frontdoor during the third quarter worth approximately $35,000. EverSource Wealth Advisors LLC grew its holdings in Frontdoor by 164.6% during the second quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after purchasing an additional 497 shares during the last quarter. Finally, Quarry LP grew its holdings in Frontdoor by 429.5% during the third quarter. Quarry LP now owns 879 shares of the company’s stock valued at $59,000 after purchasing an additional 713 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.