Frontdoor (NASDAQ:FTDR) Reaches New 12-Month High After Better-Than-Expected Earnings

Frontdoor, Inc. (NASDAQ:FTDR - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $54.24 and last traded at $53.99, with a volume of 12000 shares. The stock had previously closed at $52.93.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Frontdoor from $45.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, August 12th. William Blair upgraded Frontdoor from a "market perform" rating to an "outperform" rating in a research report on Friday, August 2nd. Truist Financial increased their target price on Frontdoor from $56.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their price objective on Frontdoor from $41.00 to $46.00 and gave the company a "sell" rating in a research report on Tuesday. 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's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $49.50.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in Frontdoor by 25.2% in the first quarter. Nordea Investment Management AB now owns 295,885 shares of the company's stock valued at $9,631,000 after purchasing an additional 59,572 shares during the last quarter. BOKF NA purchased a new position in shares of Frontdoor during the 2nd quarter worth about $493,000. Swedbank AB acquired a new stake in shares of Frontdoor in the first quarter worth approximately $18,542,000. Harbor Capital Advisors Inc. grew its holdings in Frontdoor by 84.0% in the third quarter. Harbor Capital Advisors Inc. now owns 184,408 shares of the company's stock valued at $8,850,000 after purchasing an additional 84,167 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in Frontdoor by 22.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 125,556 shares of the company's stock worth $4,092,000 after purchasing an additional 23,194 shares during the last quarter.

Frontdoor Stock Performance

The company has a market cap of $4.20 billion, a PE ratio of 20.82 and a beta of 1.03. The stock's 50 day simple moving average is $48.90 and its two-hundred day simple moving average is $41.32. 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.