Truist Financial Raises Frontdoor (NASDAQ:FTDR) Price Target to $56.00

Frontdoor (NASDAQ:FTDR) had its target price increased by Truist Financial from $45.00 to $56.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. William Blair raised shares of Frontdoor from a market perform rating to an outperform rating in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Frontdoor from $36.00 to $39.00 and gave the company an equal weight rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $45.00.

Frontdoor Price Performance

Shares of FTDR traded down $0.50 during mid-day trading on Friday, hitting $44.00. 1,310,949 shares of the company traded hands, compared to its average volume of 928,617. Frontdoor has a one year low of $28.25 and a one year high of $48.22. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 2.66. The business has a 50-day moving average of $35.81 and a 200 day moving average of $33.66. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 19.30 and a beta of 0.99.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.00 by $0.27. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The business had revenue of $542.00 million for the quarter, compared to analysts’ expectations of $536.74 million. During the same period in the prior year, the firm earned $0.87 earnings per share. Frontdoor’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts expect that Frontdoor will post 2.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Frontdoor

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund grew its holdings in shares of Frontdoor by 0.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 46,552 shares of the company’s stock valued at $1,517,000 after purchasing an additional 321 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Frontdoor by 13.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,839 shares of the company’s stock worth $100,000 after acquiring an additional 341 shares during the last quarter. Tidal Investments LLC grew its holdings in Frontdoor by 2.2% during the 1st quarter. Tidal Investments LLC now owns 15,740 shares of the company’s stock worth $513,000 after acquiring an additional 344 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Frontdoor by 5.3% during the 4th quarter. Meeder Asset Management Inc. now owns 7,137 shares of the company’s stock worth $251,000 after acquiring an additional 359 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Frontdoor by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock worth $30,000 after acquiring an additional 418 shares during the last quarter.

Frontdoor Company Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company's home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.