SunTrust Banks Reiterates “Buy” Rating for Frontdoor (FTDR)
SunTrust Banks reissued their buy rating on shares of Frontdoor (NASDAQ:FTDR) in a research note issued to investors on Tuesday, AnalystRatings.com reports.
“We maintain a Buy rating and $40 PT heading into FTDR’s 1Q19 print on 5/8. We initiated in March with a positive bias on FTDR based on its industry leading position in the home service plans vertical, which it should be able to leverage to continue to scale its core business as well as develop new products. These include an on-demand offering, which should better position the company for growth as it adapts to shifting consumer habits. We note that 75% revenue retention from its subscription model provides strong visibility into the top and bottom lines, further supporting the stock.”,” the firm’s analyst commented.
Other equities research analysts have also recently issued research reports about the stock. Goldman Sachs Group initiated coverage on shares of Frontdoor in a research report on Wednesday, April 24th. They set a buy rating and a $41.00 price target for the company. Guggenheim initiated coverage on shares of Frontdoor in a research report on Monday, April 8th. They set a buy rating and a $40.00 price target for the company. Buckingham Research increased their price target on shares of Frontdoor from $37.00 to $44.00 and gave the company a buy rating in a research report on Thursday, March 14th. Zacks Investment Research cut shares of Frontdoor from a buy rating to a hold rating in a research report on Tuesday, March 5th. Finally, Credit Suisse Group initiated coverage on shares of Frontdoor in a research report on Thursday, April 18th. They set a neutral rating and a $40.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $42.12.
Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.08. The firm had revenue of $271.00 million for the quarter, compared to analysts’ expectations of $268.69 million. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. On average, research analysts forecast that Frontdoor will post 1.45 earnings per share for the current year.
Several large investors have recently bought and sold shares of FTDR. Janus Henderson Group PLC purchased a new stake in shares of Frontdoor in the 1st quarter worth about $210,453,000. Iridian Asset Management LLC CT purchased a new stake in shares of Frontdoor in the 1st quarter worth about $145,676,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Frontdoor in the 1st quarter worth about $59,584,000. Chilton Investment Co. LLC purchased a new stake in shares of Frontdoor in the 1st quarter worth about $34,011,000. Finally, Boston Partners purchased a new stake in shares of Frontdoor in the 1st quarter worth about $24,039,000. 76.25% of the stock is owned by hedge funds and other institutional investors.
Frontdoor Company Profile
frontdoor, inc. provides home service plans in the United States. The company's home service plans cover the repair or replacement of components of up to 21 household systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as central heating, ventilation and air conditioning systems.
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