Benchmark Begins Coverage on Frontdoor (NASDAQ:FTDR)

Stock analysts at Benchmark assumed coverage on shares of Frontdoor (NASDAQ:FTDR) in a research note issued to investors on Thursday,Benzinga reports. The firm set a “buy” rating and a $80.00 price target on the stock. Benchmark’s price target would indicate a potential upside of 38.55% from the company’s current price.

Several other research firms have also recently issued reports on FTDR. Wall Street Zen cut Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Truist Financial set a $71.00 target price on shares of Frontdoor in a research report on Monday, January 26th. Weiss Ratings raised shares of Frontdoor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. The Goldman Sachs Group upgraded shares of Frontdoor from a “sell” rating to a “neutral” rating and increased their price target for the company from $50.00 to $67.00 in a report on Monday, March 2nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective on shares of Frontdoor in a research note on Thursday, February 26th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Frontdoor has a consensus rating of “Moderate Buy” and an average target price of $68.60.

Frontdoor Stock Down 2.5%

Shares of Frontdoor stock opened at $57.74 on Thursday. The company has a market cap of $4.08 billion, a P/E ratio of 16.93 and a beta of 1.31. The company has a debt-to-equity ratio of 4.73, a quick ratio of 1.55 and a current ratio of 1.55. Frontdoor has a one year low of $35.61 and a one year high of $70.77. The firm has a fifty day moving average of $60.15 and a two-hundred day moving average of $60.17.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Thursday, February 26th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.11 by $0.12. The company had revenue of $433.00 million during the quarter, compared to analysts’ expectations of $421.62 million. Frontdoor had a net margin of 12.18% and a return on equity of 120.79%. The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $0.27 EPS. On average, analysts forecast that Frontdoor will post 3.07 earnings per share for the current year.

Institutional Trading of Frontdoor

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Frontdoor by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,846 shares of the company’s stock valued at $1,761,000 after buying an additional 1,994 shares in the last quarter. Millennium Management LLC grew its holdings in Frontdoor by 533.0% during the 1st quarter. Millennium Management LLC now owns 307,497 shares of the company’s stock valued at $11,814,000 after buying an additional 258,920 shares during the last quarter. Empowered Funds LLC increased its position in Frontdoor by 10.5% during the first quarter. Empowered Funds LLC now owns 11,008 shares of the company’s stock worth $423,000 after buying an additional 1,044 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Frontdoor by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 237,526 shares of the company’s stock worth $9,126,000 after buying an additional 13,134 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Frontdoor in the second quarter worth $270,000.

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.