Frontdoor (NASDAQ:FTDR) Sets New 1-Year High - Here's What Happened

Frontdoor, Inc. (NASDAQ:FTDR - Get Free Report) shares reached a new 52-week high 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 equities research analysts have recently issued reports 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 lifted their target price on shares of Frontdoor from $41.00 to $46.00 and gave the company a "sell" rating in a research report on Tuesday, November 5th. Truist Financial raised their price objective on shares of Frontdoor from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Frontdoor from $45.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $49.50.

Frontdoor Stock Up 1.8 %

The company's fifty day simple moving average is $51.09 and its 200 day simple moving average is $43.42. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $4.43 billion, a P/E ratio of 19.50 and a beta of 1.03.

Frontdoor (NASDAQ:FTDR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.33. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The business had revenue of $540.00 million for the quarter, compared to analysts' expectations of $541.88 million. During the same period in the previous year, the firm posted $0.94 EPS. The business's revenue was up 3.1% on a year-over-year basis. Research analysts expect that Frontdoor, Inc. will post 3.14 EPS for the current year.

Institutional Trading of Frontdoor

Hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its stake in shares of Frontdoor by 440.4% in the second quarter. Millennium Management LLC now owns 908,904 shares of the company's stock worth $30,712,000 after acquiring an additional 740,711 shares during the last quarter. Swedbank AB raised its holdings in Frontdoor by 112.7% in the second quarter. Swedbank AB now owns 1,210,600 shares of the company's stock worth $40,906,000 after buying an additional 641,476 shares during the last quarter. Boston Partners lifted its stake in shares of Frontdoor by 8.9% in the first quarter. Boston Partners now owns 6,198,543 shares of the company's stock worth $201,662,000 after buying an additional 506,217 shares in the last quarter. Invenomic Capital Management LP grew its holdings in shares of Frontdoor by 57.3% during the first quarter. Invenomic Capital Management LP now owns 1,072,445 shares of the company's stock valued at $34,940,000 after buying an additional 390,610 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Frontdoor by 3.8% during the first quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company's stock valued at $331,636,000 after acquiring an additional 373,091 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.