Oppenheimer Raises Frontdoor (NASDAQ:FTDR) Price Target to $63.00

Key Points

• Oppenheimer raised its price target for Frontdoor from $56.00 to $63.00, maintaining an "outperform" rating, indicating a potential upside of 12.18% from the stock's previous close.
• Frontdoor reported quarterly earnings of $1.63 EPS, exceeding analysts' expectations of $1.44, and achieved a revenue of $617.00 million compared to the consensus estimate of $602.62 million.
• Several institutional investors have recently increased their stakes in Frontdoor, including JPMorgan Chase & Co., which raised its holdings by 44.5%.

Frontdoor (NASDAQ:FTDR - Free Report) had its target price boosted by Oppenheimer from $56.00 to $63.00 in a research note issued to investors on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other analysts have also issued research reports about the company. Truist Financial upped their price objective on Frontdoor from $67.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target 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

FTDR stock traded down $1.44 during trading on Wednesday, hitting $54.88. The company had a trading volume of 525,542 shares, compared to its average volume of 650,161. The business has a 50 day moving average of $57.87 and a 200 day moving average of $51.43. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 16.19 and a beta of 1.32. The company has a current ratio of 1.49, a quick ratio of 1.34 and a debt-to-equity ratio of 4.56. Frontdoor has a fifty-two week low of $35.61 and a fifty-two week high of $64.91.

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

Institutional Investors Weigh In On Frontdoor

Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Frontdoor by 2.3% during the first quarter. Principal Financial Group Inc. now owns 408,982 shares of the company's stock valued at $15,713,000 after buying an additional 9,161 shares in the last quarter. GAMMA Investing LLC grew its stake in Frontdoor by 16.5% during the 1st quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock valued at $94,000 after acquiring an additional 347 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Frontdoor by 48.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 24,317 shares of the company's stock worth $934,000 after purchasing an additional 7,967 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Frontdoor by 775.3% during the first quarter. New York State Common Retirement Fund now owns 212,552 shares of the company's stock worth $8,166,000 after purchasing an additional 188,268 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Frontdoor by 126.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 138,646 shares of the company's stock valued at $5,327,000 after buying an additional 77,330 shares during the period.

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.