Frontdoor (NASDAQ:FTDR) Hits New 52-Week High – Still a Buy?

Shares of Frontdoor, Inc. (NASDAQ:FTDR) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $59.01 and last traded at $58.83, with a volume of 200864 shares. The stock had previously closed at $57.44.

Wall Street Analyst Weigh In

Several research firms have issued reports on FTDR. JPMorgan Chase & Co. lifted their price objective on Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Finally, Truist Financial lifted their price objective on Frontdoor from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One research 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. According to MarketBeat.com, Frontdoor currently has a consensus rating of “Hold” and an average price target of $49.50.

Frontdoor Trading Up 1.8 %

The company has a market cap of $4.43 billion, a price-to-earnings ratio of 19.36 and a beta of 1.03. The firm has a 50-day moving average price of $51.31 and a 200 day moving average price of $43.58. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16.

Frontdoor (NASDAQ:FTDR) last issued its earnings results on Monday, November 4th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.05 by $0.33. The company had revenue of $540.00 million during the quarter, compared to analyst estimates of $541.88 million. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS. As a group, sell-side analysts forecast that Frontdoor, Inc. will post 3.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC boosted its position in Frontdoor by 440.4% during the 2nd quarter. Millennium Management LLC now owns 908,904 shares of the company’s stock valued at $30,712,000 after purchasing an additional 740,711 shares during the period. Swedbank AB boosted its position in Frontdoor by 112.7% during the 2nd quarter. Swedbank AB now owns 1,210,600 shares of the company’s stock valued at $40,906,000 after purchasing an additional 641,476 shares during the period. Boston Partners boosted its position in Frontdoor by 8.9% during the 1st quarter. Boston Partners now owns 6,198,543 shares of the company’s stock valued at $201,662,000 after purchasing an additional 506,217 shares during the period. Invenomic Capital Management LP boosted its position in Frontdoor by 57.3% during the 1st quarter. Invenomic Capital Management LP now owns 1,072,445 shares of the company’s stock valued at $34,940,000 after purchasing an additional 390,610 shares during the period. Finally, Vanguard Group Inc. boosted its position in Frontdoor by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company’s stock valued at $331,636,000 after purchasing an additional 373,091 shares during the period.

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.