Frontdoor (NASDAQ:FTDR) Reaches New 12-Month High – What’s Next?

Frontdoor Inc. (NASDAQ:FTDR)’s share price hit a new 52-week high on Monday . The company traded as high as $75.96 and last traded at $74.2090, with a volume of 1980486 shares changing hands. The stock had previously closed at $74.73.

Analyst Ratings Changes

Several analysts have issued reports on FTDR shares. Wall Street Zen cut Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. The Goldman Sachs Group upgraded shares of Frontdoor from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $67.00 in a research note on Monday, March 2nd. Benchmark initiated coverage on shares of Frontdoor in a research note on Thursday, March 26th. They issued a “buy” rating and a $80.00 target price for the company. Finally, Weiss Ratings downgraded Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Frontdoor Stock Performance

The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.95. The company has a market cap of $5.29 billion, a PE ratio of 21.55 and a beta of 1.50. The firm’s 50-day simple moving average is $64.88 and its two-hundred day simple moving average is $60.88.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) 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 business had revenue of $451.00 million during the quarter, compared to analysts’ expectations of $442.28 million. During the same quarter last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, research analysts anticipate that Frontdoor Inc. will post 4.48 earnings per share for the current fiscal year.

Institutional Trading of Frontdoor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 purchasing an additional 1,994 shares during the last quarter. Millennium Management LLC raised its holdings 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 purchasing an additional 258,920 shares during the last quarter. Empowered Funds LLC raised 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 purchasing an additional 1,044 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Frontdoor by 5.9% in 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 purchasing an additional 13,134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Frontdoor by 164.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock worth $47,000 after purchasing an additional 497 shares during the period.

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.