Frontdoor (NASDAQ:FTDR) Sets New 1-Year High – Time to Buy?

Shares of Frontdoor Inc. (NASDAQ:FTDR) reached a new 52-week high on Monday . The stock traded as high as $71.76 and last traded at $72.84, with a volume of 1088230 shares traded. The stock had previously closed at $71.56.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Benchmark assumed coverage on shares of Frontdoor in a research report on Thursday, March 26th. They issued a “buy” rating and a $80.00 target price for the company. The Goldman Sachs Group raised shares of Frontdoor from a “sell” rating to a “neutral” rating and raised their price target for the stock from $50.00 to $67.00 in a research report on Monday, March 2nd. Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective on shares of Frontdoor in a research note on Thursday, February 26th. Finally, Weiss Ratings downgraded shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. One equities research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Frontdoor Stock Up 1.5%

The company has a market capitalization of $5.10 billion, a P/E ratio of 20.76 and a beta of 1.50. The company has a debt-to-equity ratio of 4.95, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s fifty day moving average is $63.39 and its 200-day moving average is $60.15.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. The company had revenue of $451.00 million during the quarter, compared to the consensus estimate of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, equities research analysts predict that Frontdoor Inc. will post 4.48 EPS for the current year.

Institutional Trading of Frontdoor

A number of hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in shares of Frontdoor by 35.2% during the first quarter. Janus Henderson Group PLC now owns 1,220,768 shares of the company’s stock worth $64,485,000 after purchasing an additional 317,995 shares during the last quarter. Amundi boosted its position in Frontdoor by 42.4% during the 1st quarter. Amundi now owns 23,192 shares of the company’s stock worth $1,226,000 after buying an additional 6,909 shares during the period. California State Teachers Retirement System boosted its position in Frontdoor by 20.2% during the 1st quarter. California State Teachers Retirement System now owns 82,866 shares of the company’s stock worth $4,380,000 after buying an additional 13,941 shares during the period. Empowered Funds LLC grew its holdings in Frontdoor by 791.6% during the 1st quarter. Empowered Funds LLC now owns 359,360 shares of the company’s stock worth $18,996,000 after acquiring an additional 319,053 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Frontdoor by 11.1% during the 1st quarter. Quantinno Capital Management LP now owns 62,216 shares of the company’s stock worth $3,289,000 after acquiring an additional 6,224 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.