Frontdoor (NASDAQ:FTDR) Price Target Raised to $41.00

Frontdoor (NASDAQ:FTDR) had its target price boosted by equities research analysts at The Goldman Sachs Group from $33.00 to $41.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 5.33% from the company’s current price.

FTDR has been the subject of a number of other reports. Wells Fargo & Company raised 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. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research report on Friday. Finally, Truist Financial lifted their target price on shares of Frontdoor from $45.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.00.

Frontdoor Price Performance

Frontdoor stock traded down $1.19 during trading hours on Friday, hitting $43.31. 411,226 shares of the company traded hands, compared to its average volume of 749,987. The firm’s 50-day simple moving average is $35.62 and its two-hundred day simple moving average is $33.58. The firm has a market cap of $3.37 billion, a P/E ratio of 19.00 and a beta of 0.99. Frontdoor has a 1-year low of $28.25 and a 1-year high of $48.22. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 3.54.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.27. The company had revenue of $542.00 million for the quarter, compared to analysts’ expectations of $536.74 million. Frontdoor had a return on equity of 132.00% and a net margin of 10.27%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. As a group, analysts forecast that Frontdoor will post 2.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Frontdoor

Institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of Frontdoor by 25.2% during the 1st quarter. Nordea Investment Management AB now owns 295,885 shares of the company’s stock worth $9,631,000 after purchasing an additional 59,572 shares during the last quarter. Boston Partners raised its holdings in Frontdoor by 19.7% during the fourth quarter. Boston Partners now owns 5,692,326 shares of the company’s stock valued at $200,186,000 after buying an additional 938,541 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Frontdoor in the fourth quarter worth about $2,546,000. Allianz Asset Management GmbH boosted its stake in shares of Frontdoor by 775.6% during the 4th quarter. Allianz Asset Management GmbH now owns 270,189 shares of the company’s stock worth $9,516,000 after acquiring an additional 239,333 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Frontdoor during the 4th quarter valued at about $18,725,000.

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.