Frontdoor (NASDAQ:FTDR) Raised to "Hold" at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Frontdoor to “Hold,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $95.40.
• Frontdoor shares opened at $77.83, down 0.2%, with a market capitalization of approximately $5.36 billion and a 52-week range of $48.47 to $93.43.
• The company exceeded quarterly expectations, reporting $1.93 in EPS versus the $1.76 consensus and revenue of $645 million, up 4.5% year over year.

Frontdoor (NASDAQ:FTDR - Get Free Report) was upgraded by analysts at The Goldman Sachs Group to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

Other research analysts also recently issued reports about the company. Weiss Ratings downgraded Frontdoor from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. initiated coverage on Frontdoor in a research note on Monday, August 24th. They set a "neutral" rating and a $95.00 target price on the stock. Wolfe Research upgraded Frontdoor to an "outperform" rating in a report on Monday, August 24th. Benchmark increased their target price on shares of Frontdoor from $80.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Truist Financial boosted their price target on Frontdoor from $82.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.40.

Frontdoor Trading Down 0.2%

Shares of FTDR stock opened at $77.83 on Monday. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a fifty day moving average price of $80.37 and a 200-day moving average price of $71.34. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 20.64 and a beta of 1.53. Frontdoor has a 1 year low of $48.47 and a 1 year high of $93.43.

Frontdoor (NASDAQ:FTDR - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.76 by $0.17. Frontdoor had a return on equity of 120.90% and a net margin of 12.72%. The firm had revenue of $645.00 million for the quarter, compared to the consensus estimate of $643.40 million. During the same quarter last year, the company earned $1.63 earnings per share. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that Frontdoor will post 4.67 earnings per share for the current year.

Institutional Trading of Frontdoor

Several large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Frontdoor during the second quarter valued at $859,552,000. Renaissance Technologies LLC lifted its position in shares of Frontdoor by 1.3% in the first quarter. Renaissance Technologies LLC now owns 1,849,787 shares of the company's stock valued at $97,780,000 after acquiring an additional 23,800 shares in the last quarter. Reinhart Partners LLC. lifted its stake in shares of Frontdoor by 4.0% in the second quarter. Reinhart Partners LLC. now owns 1,684,065 shares of the company's stock worth $130,668,000 after buying an additional 64,561 shares in the last quarter. Jupiter Topco LLC purchased a new stake in Frontdoor during the 2nd quarter valued at about $113,873,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Frontdoor by 0.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,461,003 shares of the company's stock valued at $77,229,000 after purchasing an additional 7,145 shares in the last quarter.

Frontdoor Company Profile

Frontdoor, Inc NASDAQ: FTDR is a provider of home warranty and home services in the United States. The company helps homeowners manage the cost and inconvenience of repairing or replacing covered home systems and appliances by connecting them with qualified service professionals.

Frontdoor's portfolio includes American Home Shield, a major home warranty brand, along with 2-10 Home Buyers Warranty, HSA Home Warranty and Landmark Home Warranty. Its services generally cover items such as heating and cooling systems, electrical and plumbing systems, kitchen appliances and other household equipment, subject to the terms of individual contracts.

In addition to warranty plans, Frontdoor operates home services offerings that support homeowners, real estate professionals, contractors and service providers.

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