Frontdoor, Inc. (NASDAQ:FTDR) Short Interest Update

Frontdoor, Inc. (NASDAQ:FTDR) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totalling 2,770,000 shares, a drop of 5.5% from the August 31st total of 2,930,000 shares. Based on an average trading volume of 799,600 shares, the days-to-cover ratio is currently 3.5 days. Approximately 3.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Frontdoor Stock Performance

Frontdoor stock traded down $0.63 during midday trading on Monday, hitting $47.99. 438,754 shares of the company were exchanged, compared to its average volume of 740,710. The business has a fifty day simple moving average of $45.92 and a two-hundred day simple moving average of $38.04. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market capitalization of $3.73 billion, a PE ratio of 21.05 and a beta of 1.04. Frontdoor has a fifty-two week low of $28.25 and a fifty-two week high of $49.43.

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 business had revenue of $542.00 million for the quarter, compared to analysts’ expectations of $536.74 million. During the same quarter last year, the company earned $0.87 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Frontdoor will post 2.79 earnings per share for the current year.

Institutional Investors Weigh In On Frontdoor

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Frontdoor by 90.7% during the second quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock worth $30,000 after purchasing an additional 418 shares in the last quarter. Isthmus Partners LLC lifted its stake in Frontdoor by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 110,249 shares of the company’s stock valued at $37,000 after buying an additional 603 shares in the last quarter. Quarry LP boosted its stake in shares of Frontdoor by 468.1% in the second quarter. Quarry LP now owns 1,085 shares of the company’s stock worth $37,000 after acquiring an additional 894 shares during the last quarter. Covestor Ltd grew its holdings in shares of Frontdoor by 288.6% during the first quarter. Covestor Ltd now owns 1,154 shares of the company’s stock worth $38,000 after buying an additional 857 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Frontdoor during the 4th quarter valued at about $71,000.

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.