Frontdoor (NASDAQ:FTDR) Shares Up 6.8% - Here's Why

Frontdoor, Inc. (NASDAQ:FTDR - Get Free Report) shares rose 6.8% during mid-day trading on Monday . The company traded as high as $53.03 and last traded at $52.91. Approximately 593,845 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 721,167 shares. The stock had previously closed at $49.52.

Analyst Upgrades and Downgrades

FTDR has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Frontdoor from $45.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, August 12th. The Goldman Sachs Group increased their price target on shares of Frontdoor from $33.00 to $41.00 and gave the stock a "sell" rating in a research report on Friday, August 2nd. Truist Financial increased their price target on shares of Frontdoor from $45.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, William Blair raised shares of Frontdoor from a "market perform" rating to an "outperform" rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $47.75.

Frontdoor Trading Up 6.9 %

The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $4.05 billion, a PE ratio of 20.28 and a beta of 1.03. The business's 50-day moving average price is $48.81 and its 200-day moving average price is $41.16.

Frontdoor (NASDAQ:FTDR - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.27. Frontdoor had a return on equity of 132.94% and a net margin of 11.38%. The company had revenue of $542.00 million during the quarter, compared to the consensus estimate of $536.74 million. During the same quarter last year, the company earned $0.87 earnings per share. Frontdoor's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, analysts expect that Frontdoor, Inc. will post 2.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in Frontdoor by 25.2% in the 1st quarter. Nordea Investment Management AB now owns 295,885 shares of the company's stock valued at $9,631,000 after buying an additional 59,572 shares during the period. BOKF NA acquired a new position in shares of Frontdoor in the 2nd quarter valued at approximately $493,000. Swedbank AB acquired a new stake in shares of Frontdoor during the 1st quarter valued at approximately $18,542,000. Harbor Capital Advisors Inc. raised its position in shares of Frontdoor by 84.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 184,408 shares of the company's stock valued at $8,850,000 after acquiring an additional 84,167 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Frontdoor by 22.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 125,556 shares of the company's stock valued at $4,092,000 after acquiring an additional 23,194 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.