Frontdoor Inc. (NASDAQ:FTDR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Frontdoor Inc. (NASDAQ:FTDR) have been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $68.60.

FTDR has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings raised Frontdoor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. The Goldman Sachs Group upgraded Frontdoor from a “sell” rating to a “neutral” rating and upped their target price for the company from $50.00 to $67.00 in a research report on Monday, March 2nd. Benchmark began coverage on Frontdoor in a research note on Thursday. They set a “buy” rating and a $80.00 target price for the company. Finally, Truist Financial set a $71.00 target price on Frontdoor in a report on Monday, January 26th.

Institutional Trading of Frontdoor

Several hedge funds have recently modified their holdings of the stock. Public Sector Pension Investment Board increased its stake in Frontdoor by 11.7% in the third quarter. Public Sector Pension Investment Board now owns 316,564 shares of the company’s stock valued at $21,302,000 after purchasing an additional 33,261 shares in the last quarter. Algert Global LLC boosted its position in shares of Frontdoor by 24.5% during the 3rd quarter. Algert Global LLC now owns 260,233 shares of the company’s stock worth $17,511,000 after purchasing an additional 51,214 shares in the last quarter. Prana Capital Management LP acquired a new stake in shares of Frontdoor in the 3rd quarter valued at about $1,762,000. Federated Hermes Inc. grew its stake in shares of Frontdoor by 978.0% in the 3rd quarter. Federated Hermes Inc. now owns 154,980 shares of the company’s stock valued at $10,429,000 after buying an additional 140,604 shares during the period. Finally, Nordea Investment Management AB increased its position in Frontdoor by 3.7% in the 3rd quarter. Nordea Investment Management AB now owns 274,407 shares of the company’s stock valued at $18,293,000 after buying an additional 9,880 shares in the last quarter.

Frontdoor Stock Down 3.3%

Shares of NASDAQ FTDR opened at $55.84 on Friday. The company’s 50 day moving average price is $60.05 and its 200-day moving average price is $60.14. The company has a debt-to-equity ratio of 4.73, a quick ratio of 1.55 and a current ratio of 1.55. Frontdoor has a 52-week low of $35.61 and a 52-week high of $70.77. The company has a market capitalization of $3.94 billion, a P/E ratio of 16.38 and a beta of 1.31.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.12. Frontdoor had a net margin of 12.18% and a return on equity of 120.79%. The company had revenue of $433.00 million during the quarter, compared to analysts’ expectations of $421.62 million. During the same period in the prior year, the company posted $0.27 earnings per share. Frontdoor’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities analysts forecast that Frontdoor will post 3.07 earnings per share for the current year.

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.