Frontdoor (NASDAQ:FTDR) Reaches New 52-Week High – Here’s Why

Shares of Frontdoor, Inc. (NASDAQ:FTDR) hit a new 52-week high during trading on Thursday . The company traded as high as $52.52 and last traded at $52.46, with a volume of 560980 shares changing hands. The stock had previously closed at $51.38.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. William Blair upgraded shares of Frontdoor from a “market perform” rating to an “outperform” rating in a research note on Friday, August 2nd. Truist Financial boosted their price target on Frontdoor from $45.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group lifted their price objective on Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.75.

Frontdoor Price Performance

The firm has a 50-day moving average of $47.84 and a 200-day moving average of $39.43. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market capitalization of $4.08 billion, a P/E ratio of 22.93 and a beta of 1.04.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.27. Frontdoor had a return on equity of 132.94% and a net margin of 11.38%. The firm had revenue of $542.00 million for the quarter, compared to the consensus estimate of $536.74 million. During the same period in the prior year, the company posted $0.87 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts predict that Frontdoor, Inc. will post 2.79 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in Frontdoor by 44.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 870,440 shares of the company’s stock valued at $30,657,000 after buying an additional 267,762 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Frontdoor by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 9,806,048 shares of the company’s stock valued at $345,369,000 after acquiring an additional 249,789 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Frontdoor by 10.1% in the first quarter. Los Angeles Capital Management LLC now owns 80,624 shares of the company’s stock valued at $2,627,000 after acquiring an additional 7,401 shares during the period. AlphaMark Advisors LLC purchased a new position in Frontdoor in the first quarter worth about $282,000. Finally, Principal Financial Group Inc. grew its stake in shares of Frontdoor by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 441,726 shares of the company’s stock valued at $14,391,000 after purchasing an additional 6,931 shares during the period.

About Frontdoor

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.