Frontdoor (NASDAQ:FTDR) Hits New 52-Week High – What’s Next?

Frontdoor Inc. (NASDAQ:FTDR) shares reached a new 52-week high during trading on Monday . The stock traded as high as $80.09 and last traded at $79.41, with a volume of 700429 shares trading hands. The stock had previously closed at $78.50.

Analysts Set New Price Targets

FTDR has been the topic of several research reports. Weiss Ratings lowered Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 21st. Benchmark initiated coverage on Frontdoor in a research report on Thursday, March 26th. They set a “buy” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Frontdoor Stock Down 0.8%

The firm’s 50-day moving average price is $67.21 and its 200-day moving average price is $62.02. The company has a debt-to-equity ratio of 4.95, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 22.47 and a beta of 1.46.

Frontdoor (NASDAQ:FTDR) last posted its earnings results on Thursday, April 30th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The business had revenue of $451.00 million for the quarter, compared to analyst estimates of $442.28 million. During the same quarter in the previous year, the business posted $0.64 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. Sell-side analysts forecast that Frontdoor Inc. will post 4.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontdoor

A number of institutional investors have recently added to or reduced their stakes in FTDR. State of Wyoming increased its position in shares of Frontdoor by 2.5% during the first quarter. State of Wyoming now owns 7,140 shares of the company’s stock worth $377,000 after acquiring an additional 177 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Frontdoor by 4.0% in the fourth quarter. Park Avenue Securities LLC now owns 5,107 shares of the company’s stock valued at $295,000 after purchasing an additional 198 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Frontdoor by 11.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,065 shares of the company’s stock valued at $119,000 after purchasing an additional 217 shares during the last quarter. Optivise Advisory Services LLC grew its stake in Frontdoor by 6.9% during the 4th quarter. Optivise Advisory Services LLC now owns 3,641 shares of the company’s stock valued at $210,000 after purchasing an additional 235 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Frontdoor by 1.7% during the 4th quarter. ProShare Advisors LLC now owns 14,232 shares of the company’s stock worth $821,000 after purchasing an additional 236 shares during 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.