Frontdoor, Inc. (NASDAQ:FTDR) Short Interest Down 13.3% in August

Frontdoor, Inc. (NASDAQ:FTDR) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 2,740,000 shares, a drop of 13.3% from the July 31st total of 3,160,000 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average trading volume of 797,900 shares, the days-to-cover ratio is currently 3.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its holdings in shares of Frontdoor by 7.8% during the fourth quarter. California Public Employees Retirement System now owns 173,132 shares of the company’s stock valued at $6,098,000 after acquiring an additional 12,569 shares in the last quarter. Yousif Capital Management LLC increased its stake in Frontdoor by 2.0% during the 4th quarter. Yousif Capital Management LLC now owns 40,720 shares of the company’s stock valued at $1,434,000 after purchasing an additional 812 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Frontdoor by 1,152.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,017,473 shares of the company’s stock worth $35,835,000 after buying an additional 936,209 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Frontdoor during the fourth quarter worth $415,000. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Frontdoor by 4.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 73,223 shares of the company’s stock valued at $2,579,000 after buying an additional 3,265 shares during the last quarter.

Frontdoor Stock Up 1.1 %

Shares of NASDAQ:FTDR traded up $0.53 during trading hours on Monday, hitting $48.08. The company’s stock had a trading volume of 622,800 shares, compared to its average volume of 756,919. The firm’s fifty day moving average price is $40.68 and its 200 day moving average price is $35.75. Frontdoor has a 52 week low of $28.25 and a 52 week high of $49.21. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 21.09 and a beta of 0.99. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.27. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The company had revenue of $542.00 million during the quarter, compared to the consensus estimate of $536.74 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Frontdoor’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts expect that Frontdoor will post 2.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FTDR. Truist Financial upped their price target on shares of Frontdoor from $45.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. The Goldman Sachs Group boosted their price target on Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a report on Friday, August 2nd. William Blair raised Frontdoor from a “market perform” rating to an “outperform” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on Frontdoor from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.75.

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.