Frontdoor (NASDAQ:FTDR) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Frontdoor (NASDAQ:FTDR) from a buy rating to a hold rating in a research note released on Sunday morning.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group upgraded Frontdoor from a “sell” rating to a “neutral” rating and increased their price target for the stock from $50.00 to $67.00 in a research report on Monday, March 2nd. Truist Financial set a $71.00 price objective on Frontdoor in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $70.00 target price on shares of Frontdoor in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Frontdoor currently has a consensus rating of “Hold” and a consensus target price of $65.75.

Frontdoor Price Performance

Shares of NASDAQ:FTDR opened at $64.69 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 4.73. Frontdoor has a fifty-two week low of $35.61 and a fifty-two week high of $70.77. The firm has a 50-day simple moving average of $59.77 and a 200 day simple moving average of $60.22. The company has a market cap of $4.57 billion, a PE ratio of 18.97 and a beta of 1.31.

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

Hedge Funds Weigh In On Frontdoor

Several hedge funds and other institutional investors have recently made changes to their positions in FTDR. Corient Private Wealth LLC grew its holdings in Frontdoor by 8.6% in the 4th quarter. Corient Private Wealth LLC now owns 5,409 shares of the company’s stock worth $312,000 after buying an additional 427 shares in the last quarter. Hsbc Holdings PLC raised its stake in Frontdoor by 3.3% during the 4th quarter. Hsbc Holdings PLC now owns 34,673 shares of the company’s stock valued at $2,000,000 after acquiring an additional 1,093 shares in the last quarter. Pacer Advisors Inc. boosted its position in Frontdoor by 4,941.8% during the 4th quarter. Pacer Advisors Inc. now owns 248,056 shares of the company’s stock worth $14,310,000 after acquiring an additional 243,136 shares during the period. Invesco Ltd. boosted its position in Frontdoor by 2.5% during the 4th quarter. Invesco Ltd. now owns 1,136,647 shares of the company’s stock worth $65,573,000 after acquiring an additional 27,832 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Frontdoor by 31.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,339 shares of the company’s stock worth $308,000 after purchasing an additional 1,275 shares in the last quarter.

Frontdoor Company Profile

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.