JPMorgan Chase & Co. assumed coverage on shares of Frontdoor (NASDAQ:FTDR – Get Free Report) in a note issued to investors on Monday. The brokerage set a “neutral” rating and a $95.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 13.72% from the stock’s current price.
A number of other brokerages have also weighed in on FTDR. Benchmark upped their target price on shares of Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Frontdoor in a report on Friday, August 7th. Oppenheimer boosted their price target on shares of Frontdoor from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Frontdoor in a report on Tuesday, August 18th. Finally, Wolfe Research raised Frontdoor to an “outperform” rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Frontdoor presently has an average rating of “Moderate Buy” and a consensus price target of $92.60.
View Our Latest Research Report on FTDR
Frontdoor Price Performance
Frontdoor (NASDAQ:FTDR – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.17. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The firm had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $643.40 million. During the same quarter last year, the business posted $1.63 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Analysts expect that Frontdoor will post 4.66 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Frontdoor
Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its stake in Frontdoor by 7,470.6% in the second quarter. California State Teachers Retirement System now owns 6,273,462 shares of the company’s stock worth $486,758,000 after purchasing an additional 6,190,596 shares during the last quarter. Nykredit A S purchased a new position in shares of Frontdoor during the second quarter valued at approximately $332,000. B. Metzler seel. Sohn & Co. AG grew its stake in shares of Frontdoor by 7.0% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 24,058 shares of the company’s stock valued at $1,867,000 after buying an additional 1,582 shares during the last quarter. Ancora Advisors LLC grew its stake in shares of Frontdoor by 32.4% during the second quarter. Ancora Advisors LLC now owns 122,875 shares of the company’s stock valued at $9,534,000 after buying an additional 30,090 shares during the last quarter. Finally, IMC Chicago LLC purchased a new stake in Frontdoor in the second quarter worth $583,000.
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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