Frontdoor Inc. (NASDAQ:FTDR) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Frontdoor holds a “Moderate Buy” consensus among seven analysts, with five buy ratings and two holds. The average 12-month price target is $92, with recent targets ranging from $96 to $100.
• Frontdoor exceeded quarterly expectations, reporting $1.93 EPS versus the $1.76 consensus and revenue of $645 million versus $643.4 million expected. Revenue increased 4.5% year over year.
• The stock opened at $82.59, near its $93.43 12-month high, while institutional ownership activity was mixed but included a major increase from the California State Teachers’ Retirement System.

Frontdoor Inc. (NASDAQ:FTDR - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $92.00.

Several research analysts have recently commented on the company. Benchmark boosted their target price on Frontdoor from $80.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Oppenheimer boosted their price objective on Frontdoor from $70.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Weiss Ratings restated a "buy (b-)" rating on shares of Frontdoor in a report on Tuesday, August 18th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Frontdoor in a report on Friday, August 7th. Finally, Wolfe Research raised shares of Frontdoor to an "outperform" rating in a report on Monday.

Frontdoor Price Performance

FTDR opened at $82.59 on Monday. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 21.91 and a beta of 1.47. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.59 and a current ratio of 1.59. The firm's 50-day simple moving average is $76.86 and its 200-day simple moving average is $66.49. Frontdoor has a twelve month low of $48.47 and a twelve month high of $93.43.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.17. The firm had revenue of $645.00 million during the quarter, compared to the consensus estimate of $643.40 million. Frontdoor had a net margin of 12.72% and a return on equity of 120.90%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. Equities research analysts anticipate that Frontdoor will post 4.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Frontdoor by 7,470.6% during the second quarter. California State Teachers Retirement System now owns 6,273,462 shares of the company's stock worth $486,758,000 after acquiring an additional 6,190,596 shares during the last quarter. Nykredit A S acquired a new position in shares of Frontdoor during the second quarter valued at $332,000. B. Metzler seel. Sohn & Co. AG boosted its holdings in Frontdoor by 7.0% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 24,058 shares of the company's stock valued at $1,867,000 after acquiring an additional 1,582 shares during the last quarter. Ancora Advisors LLC boosted its holdings in Frontdoor by 32.4% in the second quarter. Ancora Advisors LLC now owns 122,875 shares of the company's stock valued at $9,534,000 after acquiring an additional 30,090 shares during the last quarter. Finally, IMC Chicago LLC acquired a new stake in Frontdoor in the second quarter worth about $583,000.

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.

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