The Goldman Sachs Group Boosts Frontdoor (NASDAQ:FTDR) Price Target to $50.00

Key Points

• Goldman Sachs raised its price target for Frontdoor (NASDAQ: FTDR) to $50.00, while maintaining a "sell" rating, indicating a potential downside from the stock's previous close.
• Other analysts have increased their price objectives, with Truist Financial setting a target of $71.00 and JPMorgan Chase raising its target to $55.00.
• Frontdoor reported a quarterly earnings surprise with an EPS of $1.63, exceeding expectations and demonstrating a 13.8% year-over-year revenue growth.

Frontdoor (NASDAQ:FTDR - Free Report) had its target price boosted by The Goldman Sachs Group from $44.00 to $50.00 in a research report report published on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Truist Financial upped their target price on shares of Frontdoor from $67.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday. Oppenheimer boosted their price target on shares of Frontdoor from $56.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Frontdoor from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd.

Frontdoor Price Performance

Shares of FTDR traded down $0.67 during mid-day trading on Wednesday, hitting $55.66. 51,889 shares of the company were exchanged, compared to its average volume of 748,717. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 16.45 and a beta of 1.32. Frontdoor has a 1-year low of $35.61 and a 1-year high of $64.91. The company has a 50 day moving average of $57.88 and a 200-day moving average of $51.50. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.34 and a current ratio of 1.49.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.19. Frontdoor had a return on equity of 125.21% and a net margin of 13.07%. The business had revenue of $617.00 million for the quarter, compared to the consensus estimate of $602.62 million. During the same quarter last year, the business posted $1.27 earnings per share. The business's quarterly revenue was up 13.8% compared to the same quarter last year. Analysts expect that Frontdoor will post 3.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Frontdoor

Large investors have recently made changes to their positions in the stock. Quantinno Capital Management LP lifted its stake in Frontdoor by 0.8% during the fourth quarter. Quantinno Capital Management LP now owns 24,212 shares of the company's stock worth $1,324,000 after purchasing an additional 183 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in Frontdoor by 0.6% during the second quarter. KLP Kapitalforvaltning AS now owns 33,700 shares of the company's stock worth $1,986,000 after purchasing an additional 200 shares during the period. Blue Trust Inc. lifted its position in shares of Frontdoor by 9.1% during the second quarter. Blue Trust Inc. now owns 3,032 shares of the company's stock worth $179,000 after purchasing an additional 252 shares in the last quarter. Mariner LLC boosted its stake in shares of Frontdoor by 4.0% in the fourth quarter. Mariner LLC now owns 7,311 shares of the company's stock valued at $400,000 after purchasing an additional 284 shares during the period. Finally, Xponance Inc. grew its holdings in shares of Frontdoor by 5.0% in the first quarter. Xponance Inc. now owns 5,971 shares of the company's stock valued at $229,000 after purchasing an additional 285 shares in the last quarter.

About Frontdoor

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.