Frontdoor Inc. (NASDAQ:FTDR) Sees Large Growth in Short Interest

Frontdoor Inc. (NASDAQ:FTDR - Get Free Report) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 1,830,000 shares, a growth of 22.8% from the May 15th total of 1,490,000 shares. Currently, 2.5% of the company's stock are short sold. Based on an average trading volume of 807,000 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FTDR shares. JPMorgan Chase & Co. boosted their target price on Frontdoor from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. The Goldman Sachs Group reduced their price target on Frontdoor from $46.00 to $40.00 and set a "sell" rating for the company in a research report on Monday, March 3rd.

Institutional Investors Weigh In On Frontdoor

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Frontdoor by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,674,278 shares of the company's stock valued at $528,893,000 after purchasing an additional 78,134 shares during the last quarter. Boston Partners increased its holdings in Frontdoor by 1.2% during the 1st quarter. Boston Partners now owns 5,980,271 shares of the company's stock worth $229,891,000 after purchasing an additional 68,733 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in Frontdoor by 33.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,752,723 shares of the company's stock worth $105,760,000 after purchasing an additional 685,148 shares during the period. FIL Ltd increased its holdings in shares of Frontdoor by 8.3% in the 4th quarter. FIL Ltd now owns 2,410,561 shares of the company's stock valued at $131,785,000 after acquiring an additional 184,051 shares during the period. Finally, Reinhart Partners LLC. increased its holdings in shares of Frontdoor by 16.2% in the 1st quarter. Reinhart Partners LLC. now owns 2,368,684 shares of the company's stock valued at $91,005,000 after acquiring an additional 331,066 shares during the period.

Frontdoor Price Performance

Shares of NASDAQ:FTDR traded up $0.82 during trading on Wednesday, hitting $57.56. 481,065 shares of the company's stock were exchanged, compared to its average volume of 727,121. The company has a debt-to-equity ratio of 5.88, a current ratio of 1.34 and a quick ratio of 1.34. Frontdoor has a 52-week low of $32.95 and a 52-week high of $63.49. The business's 50-day simple moving average is $50.47 and its 200 day simple moving average is $51.13. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 18.63 and a beta of 1.27.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.27. Frontdoor had a return on equity of 121.05% and a net margin of 12.59%. The firm had revenue of $426.00 million during the quarter, compared to analysts' expectations of $416.37 million. During the same quarter last year, the business posted $0.44 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis. As a group, equities analysts predict that Frontdoor will post 3.07 EPS for the current year.

Frontdoor Company Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company's home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.

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