Frontdoor, Inc. (NASDAQ:FTDR) Short Interest Update

Frontdoor, Inc. (NASDAQ:FTDR) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,930,000 shares, a growth of 6.9% from the August 15th total of 2,740,000 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average trading volume of 787,800 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. William Blair raised shares of Frontdoor from a “market perform” rating to an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Truist Financial boosted their target price on shares of Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Frontdoor from $33.00 to $41.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $47.75.

Frontdoor Stock Performance

Frontdoor stock opened at $48.50 on Tuesday. The stock’s 50 day moving average is $43.13 and its 200 day moving average is $36.70. The company has a market capitalization of $3.77 billion, a P/E ratio of 21.22 and a beta of 1.04. Frontdoor has a twelve month low of $28.25 and a twelve month high of $49.21. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.66.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.27. The firm had revenue of $542.00 million during the quarter, compared to the consensus estimate of $536.74 million. Frontdoor had a return on equity of 132.94% and a net margin of 11.38%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. On average, equities research analysts predict that Frontdoor will post 2.79 earnings per share for the current fiscal year.

Institutional Trading of Frontdoor

Institutional investors and hedge funds have recently bought and sold shares of the company. Illinois Municipal Retirement Fund lifted its stake in shares of Frontdoor by 0.7% in the first quarter. Illinois Municipal Retirement Fund now owns 46,552 shares of the company’s stock worth $1,517,000 after buying an additional 321 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Frontdoor by 13.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,839 shares of the company’s stock valued at $100,000 after acquiring an additional 341 shares in the last quarter. Tidal Investments LLC lifted its position in Frontdoor by 2.2% in the 1st quarter. Tidal Investments LLC now owns 15,740 shares of the company’s stock valued at $513,000 after acquiring an additional 344 shares in the last quarter. GAMMA Investing LLC boosted its stake in Frontdoor by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock valued at $30,000 after purchasing an additional 418 shares during the last quarter. Finally, Isthmus Partners LLC increased its holdings in shares of Frontdoor by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 110,249 shares of the company’s stock worth $37,000 after purchasing an additional 603 shares in the last quarter.

About Frontdoor

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.