Short Interest in Frontdoor, Inc. (NASDAQ:FTDR) Grows By 6.9%

Frontdoor, Inc. (NASDAQ:FTDR) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,930,000 shares, an increase of 6.9% from the August 15th total of 2,740,000 shares. Approximately 3.9% of the shares of the company are short sold. Based on an average daily trading volume, of 787,800 shares, the short-interest ratio is presently 3.7 days.

Frontdoor Stock Performance

Shares of NASDAQ FTDR traded down $0.37 during trading hours on Wednesday, hitting $48.42. 565,262 shares of the stock were exchanged, compared to its average volume of 742,654. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. Frontdoor has a one year low of $28.25 and a one year high of $49.40. The company’s 50 day moving average is $43.74 and its 200 day moving average is $36.95. The firm has a market capitalization of $3.77 billion, a P/E ratio of 21.56 and a beta of 1.03.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.27. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The firm had revenue of $542.00 million for the quarter, compared to analyst estimates of $536.74 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The company’s revenue was up 3.6% on a year-over-year basis. On average, research analysts expect that Frontdoor will post 2.79 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on FTDR. The Goldman Sachs Group boosted their target price on shares of Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. William Blair raised shares of Frontdoor from a “market perform” rating to an “outperform” rating in a research note on Friday, August 2nd. Finally, Truist Financial boosted their target price on shares of Frontdoor from $45.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Frontdoor by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock worth $30,000 after acquiring an additional 418 shares during the last quarter. Quarry LP raised its holdings in Frontdoor by 468.1% during the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock worth $37,000 after buying an additional 894 shares during the period. Covestor Ltd raised its holdings in Frontdoor by 288.6% during the 1st quarter. Covestor Ltd now owns 1,154 shares of the company’s stock worth $38,000 after buying an additional 857 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in shares of Frontdoor in the fourth quarter valued at approximately $71,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of Frontdoor by 13.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,839 shares of the company’s stock valued at $100,000 after purchasing an additional 341 shares during 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.