Frontdoor, Inc. (NASDAQ:FTDR) Sees Significant Drop in Short Interest

Frontdoor, Inc. (NASDAQ:FTDR) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 2,950,000 shares, a decrease of 10.3% from the March 15th total of 3,290,000 shares. Based on an average daily trading volume, of 749,400 shares, the short-interest ratio is currently 3.9 days. Approximately 3.8% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their target price on shares of Frontdoor from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.40.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its holdings in Frontdoor by 13.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,839 shares of the company’s stock valued at $100,000 after buying an additional 341 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in 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 buying an additional 359 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Frontdoor by 7.8% during the second quarter. PNC Financial Services Group Inc. now owns 5,079 shares of the company’s stock valued at $162,000 after buying an additional 369 shares during the last quarter. Arizona State Retirement System increased its holdings in Frontdoor by 1.6% during the third quarter. Arizona State Retirement System now owns 23,270 shares of the company’s stock valued at $712,000 after buying an additional 373 shares during the last quarter. Finally, Meritage Portfolio Management increased its holdings in Frontdoor by 5.4% during the third quarter. Meritage Portfolio Management now owns 9,628 shares of the company’s stock valued at $295,000 after buying an additional 492 shares during the last quarter.

Frontdoor Trading Down 0.9 %

Shares of NASDAQ FTDR opened at $29.95 on Wednesday. The firm’s 50 day moving average price is $31.69 and its 200-day moving average price is $32.71. The company has a market cap of $2.34 billion, a PE ratio of 14.13 and a beta of 0.89. Frontdoor has a 52-week low of $26.09 and a 52-week high of $38.97. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.10 and a current ratio of 1.10.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.18. Frontdoor had a net margin of 9.66% and a return on equity of 142.80%. The firm had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $360.47 million. During the same period in the previous year, the company earned $0.13 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Frontdoor will post 2.35 EPS for the current fiscal year.

Frontdoor Company Profile

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.