Frontdoor Inc. (NASDAQ:FTDR) Receives $92.00 Consensus PT from Brokerages

Shares of Frontdoor Inc. (NASDAQ:FTDR) have earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $92.60.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Frontdoor in a research note on Monday, August 24th. They issued a “neutral” rating and a $95.00 target price on the stock. Truist Financial increased their price target on shares of Frontdoor from $82.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Benchmark increased their price target on shares of Frontdoor from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Oppenheimer raised their price objective on shares of Frontdoor from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Frontdoor in a report on Friday, August 7th.

Frontdoor Price Performance

NASDAQ:FTDR opened at $82.89 on Monday. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 21.99 and a beta of 1.47. Frontdoor has a 52-week low of $48.47 and a 52-week high of $93.43. The stock has a fifty day moving average of $78.14 and a 200 day moving average of $67.41. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.59 and a current ratio of 1.59.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Thursday, August 6th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.17. The business had revenue of $645.00 million for the quarter, compared to analyst estimates of $643.40 million. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%.The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. On average, research analysts expect that Frontdoor will post 4.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Frontdoor

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Frontdoor in the 2nd quarter worth approximately $859,552,000. California State Teachers Retirement System boosted its stake in Frontdoor by 7,470.6% in the second quarter. California State Teachers Retirement System now owns 6,273,462 shares of the company’s stock worth $486,758,000 after buying an additional 6,190,596 shares in the last quarter. Jupiter Topco LLC bought a new position in Frontdoor during the second quarter valued at approximately $113,873,000. Bank of America Corp DE bought a new position in Frontdoor during the second quarter valued at approximately $46,580,000. Finally, Boston Partners grew its position in Frontdoor by 8.5% during the fourth quarter. Boston Partners now owns 5,777,252 shares of the company’s stock valued at $333,742,000 after acquiring an additional 454,040 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.