Frontdoor (NASDAQ:FTDR) Hits New 12-Month High on Strong Earnings

Frontdoor, Inc. (NASDAQ:FTDR) reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $54.24 and last traded at $53.99, with a volume of 12000 shares traded. The stock had previously closed at $52.93.

The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.33. The company had revenue of $540.00 million for the quarter, compared to analyst estimates of $541.88 million. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS.

Analyst Ratings Changes

Several research analysts have recently issued reports on FTDR shares. Truist Financial raised their price target on Frontdoor from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price target on Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective 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. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $49.50.

Hedge Funds Weigh In On Frontdoor

Several institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC bought a new position in Frontdoor during the 3rd quarter worth about $27,000. GAMMA Investing LLC grew its holdings in shares of Frontdoor by 90.7% during the second quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock worth $30,000 after buying an additional 418 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Frontdoor in the 3rd quarter valued at approximately $31,000. Isthmus Partners LLC boosted its position in Frontdoor by 0.5% during the 2nd quarter. Isthmus Partners LLC now owns 110,249 shares of the company’s stock worth $37,000 after acquiring an additional 603 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Frontdoor by 468.1% during the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock worth $37,000 after acquiring an additional 894 shares in the last quarter.

Frontdoor Stock Up 4.6 %

The stock’s fifty day moving average price is $49.22 and its 200-day moving average price is $41.61. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 18.99 and a beta of 1.03. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.66.

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.