Frontdoor (NASDAQ:FTDR) Stock Rating Upgraded by Benchmark

Frontdoor (NASDAQ:FTDR) was upgraded by research analysts at Benchmark to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

FTDR has been the topic of a number of other reports. Wall Street Zen lowered shares of Frontdoor from a “buy” rating to a “hold” rating in a research 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 raised their price objective for the stock from $50.00 to $67.00 in a report on Monday, March 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 target price on shares of Frontdoor in a research report on Thursday, February 26th. Finally, Truist Financial set a $71.00 target price on Frontdoor in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Frontdoor has an average rating of “Moderate Buy” and an average price target of $68.60.

Frontdoor Stock Down 3.3%

Shares of FTDR opened at $55.84 on Wednesday. The firm has a fifty day moving average price of $60.05 and a 200-day moving average price of $60.14. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 4.73. The firm has a market capitalization of $3.94 billion, a P/E ratio of 16.38 and a beta of 1.31. Frontdoor has a 12-month low of $35.61 and a 12-month high of $70.77.

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

Hedge Funds Weigh In On Frontdoor

A number of large investors have recently added to or reduced their stakes in the company. Broad Bay Capital Management LP purchased a new stake in shares of Frontdoor during the second quarter valued at about $46,886,000. Eventide Asset Management LLC bought a new position in shares of Frontdoor during the 2nd quarter worth approximately $28,506,000. Boston Partners raised its stake in shares of Frontdoor by 8.5% during the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock worth $333,742,000 after acquiring an additional 454,040 shares in the last quarter. Marshall Wace LLP purchased a new stake in Frontdoor during the third quarter valued at approximately $23,871,000. Finally, Reinhart Partners LLC. lifted its position in Frontdoor by 25.6% during the fourth quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company’s stock valued at $93,987,000 after acquiring an additional 332,556 shares during the last quarter.

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.