Frontdoor (NASDAQ:FTDR) Price Target Raised to $71.00 at Truist Financial

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 - Free Report) had its price target increased by Truist Financial from $67.00 to $71.00 in a research report report published on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Separately, JPMorgan Chase & Co. lifted 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 Trading Down 2.6%

Shares of FTDR stock traded down $1.44 during trading hours on Wednesday, hitting $54.88. The company had a trading volume of 525,542 shares, compared to its average volume of 650,161. The company has a debt-to-equity ratio of 4.56, a current ratio of 1.49 and a quick ratio of 1.34. The stock has a market capitalization of $4.00 billion, a PE ratio of 16.19 and a beta of 1.32. The company's fifty day moving average is $57.87 and its 200 day moving average is $51.43. 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 released its quarterly earnings results on Tuesday, August 5th. The company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.19. Frontdoor had a return on equity of 125.21% and a net margin of 13.07%. The company had revenue of $617.00 million for the quarter, compared to analysts' expectations of $602.62 million. During the same period in the prior year, the firm earned $1.27 earnings per share. The firm's revenue was up 13.8% compared to the same quarter last year. Research analysts expect that Frontdoor will post 3.07 earnings per share for the current fiscal year.

Institutional Trading of Frontdoor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. increased its holdings in shares of Frontdoor by 322.1% in the 2nd quarter. Bessemer Group Inc. now owns 515 shares of the company's stock valued at $30,000 after acquiring an additional 393 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Frontdoor during the first quarter worth approximately $42,000. Huntington National Bank lifted its position in shares of Frontdoor by 56.0% during the 2nd quarter. Huntington National Bank now owns 1,482 shares of the company's stock worth $87,000 after buying an additional 532 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Frontdoor by 80,766.7% during the 1st quarter. IFP Advisors Inc now owns 2,426 shares of the company's stock worth $93,000 after buying an additional 2,423 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Frontdoor by 16.5% in the 1st quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock valued at $94,000 after buying an additional 347 shares in the last quarter.

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.