Frontdoor (NASDAQ:FTDR) Price Target Raised to $56.00

Frontdoor (NASDAQ:FTDR) had its price objective boosted by Truist Financial from $45.00 to $56.00 in a report issued on Friday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on FTDR. William Blair upgraded shares of Frontdoor from a market perform rating to an outperform rating in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Frontdoor from $36.00 to $39.00 and gave the company an equal weight rating in a research note on Monday, May 6th.

Frontdoor Stock Performance

NASDAQ FTDR traded up $1.03 during trading on Friday, reaching $44.71. The company’s stock had a trading volume of 923,771 shares, compared to its average volume of 758,331. Frontdoor has a 12 month low of $28.25 and a 12 month high of $48.22. The firm has a 50 day moving average price of $35.99 and a 200 day moving average price of $33.75. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.16 and a beta of 0.99. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 2.66.

Frontdoor (NASDAQ:FTDR) last posted 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. The firm had revenue of $542.00 million for the quarter, compared to analyst estimates 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 quarter last year, the company earned $0.87 EPS. As a group, equities analysts anticipate that Frontdoor will post 2.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates grew its stake in shares of Frontdoor by 27.2% during the fourth quarter. Raymond James & Associates now owns 139,660 shares of the company’s stock worth $4,919,000 after buying an additional 29,877 shares during the last quarter. New York State Teachers Retirement System grew its position in Frontdoor by 24.2% during the 4th quarter. New York State Teachers Retirement System now owns 37,094 shares of the company’s stock worth $1,306,000 after acquiring an additional 7,237 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Frontdoor by 39.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 18,706 shares of the company’s stock worth $653,000 after purchasing an additional 5,331 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Frontdoor by 2.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,049 shares of the company’s stock valued at $1,305,000 after purchasing an additional 980 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Frontdoor by 5.3% during the fourth quarter. Meeder Asset Management Inc. now owns 7,137 shares of the company’s stock valued at $251,000 after purchasing an additional 359 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.