Frontdoor (NASDAQ:FTDR) Price Target Raised to $56.00 at Truist Financial

Frontdoor (NASDAQ:FTDR) had its price target increased by Truist Financial from $45.00 to $56.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. William Blair upgraded shares of Frontdoor from a market perform rating to an outperform rating in a research report on Friday. Wells Fargo & Company boosted their target price on shares of Frontdoor from $36.00 to $39.00 and gave the company an equal weight rating in a research note on Monday, May 6th.

Frontdoor Trading Up 0.5 %

Shares of NASDAQ:FTDR traded up $0.23 on Friday, hitting $44.23. The company had a trading volume of 520,506 shares, compared to its average volume of 754,485. The firm’s 50-day simple moving average is $35.99 and its two-hundred day simple moving average is $33.75. Frontdoor has a 1 year low of $28.25 and a 1 year high of $48.22. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 19.30 and a beta of 0.99.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.27. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The business had revenue of $542.00 million during the quarter, compared to analyst estimates of $536.74 million. During the same period last year, the business earned $0.87 EPS. Frontdoor’s revenue was up 3.6% compared to the same quarter last year. Equities analysts anticipate that Frontdoor will post 2.52 earnings per share for the current fiscal year.

Institutional Trading of Frontdoor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB increased its stake in shares of Frontdoor by 25.2% in the 1st quarter. Nordea Investment Management AB now owns 295,885 shares of the company’s stock worth $9,631,000 after acquiring an additional 59,572 shares during the last quarter. Boston Partners increased its position in shares of Frontdoor by 19.7% during the 4th quarter. Boston Partners now owns 5,692,326 shares of the company’s stock worth $200,186,000 after purchasing an additional 938,541 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Frontdoor during the 4th quarter worth about $2,546,000. Allianz Asset Management GmbH increased its position in shares of Frontdoor by 775.6% during the 4th quarter. Allianz Asset Management GmbH now owns 270,189 shares of the company’s stock worth $9,516,000 after purchasing an additional 239,333 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Frontdoor during the 4th quarter worth about $18,725,000.

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.