Truist Financial Raises Frontdoor (NASDAQ:FTDR) Price Target to $58.00

Frontdoor (NASDAQ:FTDR) had its price objective increased by equities researchers at Truist Financial from $56.00 to $58.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 1.15% from the company’s current price.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group raised their price target on Frontdoor from $33.00 to $41.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted 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. Finally, William Blair upgraded shares of Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Frontdoor presently has a consensus rating of “Hold” and an average target price of $49.50.

Frontdoor Stock Performance

Shares of NASDAQ:FTDR opened at $57.34 on Tuesday. The firm has a fifty day simple moving average of $49.22 and a two-hundred day simple moving average of $41.61. The company has a quick ratio of 1.27, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $4.39 billion, a P/E ratio of 18.99 and a beta of 1.03. Frontdoor has a 52 week low of $29.41 and a 52 week high of $57.49.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.33. The company had revenue of $540.00 million for the quarter, compared to analysts’ expectations of $541.88 million. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, analysts expect that Frontdoor will post 2.79 earnings per share for the current fiscal year.

Institutional Trading of Frontdoor

Several large investors have recently bought and sold shares of the stock. Natixis Advisors LLC increased its stake in shares of Frontdoor by 13.3% in the third quarter. Natixis Advisors LLC now owns 17,213 shares of the company’s stock worth $826,000 after acquiring an additional 2,023 shares during the period. Entropy Technologies LP acquired a new position in Frontdoor in the third quarter valued at approximately $616,000. Los Angeles Capital Management LLC boosted its position in Frontdoor by 3.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 63,699 shares of the company’s stock worth $3,057,000 after purchasing an additional 2,202 shares in the last quarter. Meritage Portfolio Management grew its stake in shares of Frontdoor by 91.7% during the 3rd quarter. Meritage Portfolio Management now owns 18,030 shares of the company’s stock worth $865,000 after purchasing an additional 8,624 shares during the period. Finally, Atria Investments Inc purchased a new position in shares of Frontdoor during the 3rd quarter valued at approximately $315,000.

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.