Truist Financial Forecasts Strong Price Appreciation for Frontdoor (NASDAQ:FTDR) Stock

Key Points

• Truist Financial has raised its price target for Frontdoor (NASDAQ:FTDR) from $67.00 to $71.00, suggesting a potential upside of 26.42% from its current price.
• JPMorgan Chase & Co. has also increased its price objective for Frontdoor from $50.00 to $55.00, giving the stock a "neutral" rating.
• Frontdoor reported a quarterly earnings per share of $1.63, exceeding estimates, with a year-over-year revenue increase of 13.8%.

Frontdoor (NASDAQ:FTDR - Get Free Report) had its price objective lifted by research analysts at Truist Financial from $67.00 to $71.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 26.42% from the company's current price.

Separately, JPMorgan Chase & Co. boosted their price objective on Frontdoor from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd.

Frontdoor Stock Down 4.0%

Shares of NASDAQ:FTDR opened at $56.16 on Wednesday. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 18.17 and a beta of 1.32. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 5.88. Frontdoor has a 12-month low of $35.61 and a 12-month high of $64.91. The business's 50 day moving average is $57.81 and its 200 day moving average is $51.48.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its earnings results 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. The company had revenue of $617.00 million for the quarter, compared to analysts' expectations of $602.62 million. Frontdoor had a return on equity of 121.05% and a net margin of 12.59%. Frontdoor's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 earnings per share. On average, sell-side analysts forecast that Frontdoor will post 3.07 earnings per share for the current fiscal year.

Institutional Trading of Frontdoor

Hedge funds have recently made changes to their positions in the company. Boston Partners raised its stake in shares of Frontdoor by 1.2% during the 1st quarter. Boston Partners now owns 5,980,271 shares of the company's stock valued at $229,891,000 after purchasing an additional 68,733 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of Frontdoor by 33.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,752,723 shares of the company's stock valued at $105,760,000 after purchasing an additional 685,148 shares during the period. FIL Ltd raised its stake in shares of Frontdoor by 8.3% during the 4th quarter. FIL Ltd now owns 2,410,561 shares of the company's stock valued at $131,785,000 after purchasing an additional 184,051 shares during the period. Reinhart Partners LLC. raised its stake in shares of Frontdoor by 16.2% during the 1st quarter. Reinhart Partners LLC. now owns 2,368,684 shares of the company's stock valued at $91,005,000 after purchasing an additional 331,066 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Frontdoor by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,127,553 shares of the company's stock valued at $116,336,000 after purchasing an additional 14,079 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.

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