Frontdoor Inc. (NASDAQ:FTDR – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $71.76 and last traded at $72.84, with a volume of 1088230 shares. The stock had previously closed at $71.56.
Wall Street Analyst Weigh In
FTDR has been the subject of a number of research reports. Oppenheimer restated an “outperform” rating and set a $70.00 target price on shares of Frontdoor in a research report on Thursday, February 26th. Weiss Ratings lowered Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. Wall Street Zen cut Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Benchmark initiated coverage on Frontdoor in a research note on Thursday, March 26th. They issued a “buy” rating and a $80.00 target price on the stock. Finally, The Goldman Sachs Group raised Frontdoor from a “sell” rating to a “neutral” rating and raised their target price for the stock from $50.00 to $67.00 in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.00.
Read Our Latest Stock Analysis on Frontdoor
Frontdoor Price Performance
Frontdoor (NASDAQ:FTDR – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The company had revenue of $451.00 million during the quarter, compared to analysts’ expectations of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. As a group, equities analysts predict that Frontdoor Inc. will post 4.48 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Frontdoor
A number of large investors have recently bought and sold shares of the business. Boston Partners grew its position in shares of Frontdoor by 8.5% in the fourth quarter. Boston Partners now owns 5,777,252 shares of the company’s stock valued at $333,742,000 after purchasing an additional 454,040 shares during the period. Marshall Wace LLP acquired a new position in shares of Frontdoor during the 3rd quarter worth about $23,871,000. Reinhart Partners LLC. raised its position in shares of Frontdoor by 25.6% during the 4th quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company’s stock worth $93,987,000 after purchasing an additional 332,556 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Frontdoor by 309.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 431,446 shares of the company’s stock valued at $25,429,000 after buying an additional 326,112 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Frontdoor by 791.6% in the 1st quarter. Empowered Funds LLC now owns 359,360 shares of the company’s stock valued at $18,996,000 after buying an additional 319,053 shares in the last quarter.
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.
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