The Goldman Sachs Group Boosts Frontdoor (NASDAQ:FTDR) Price Target to $46.00

Frontdoor (NASDAQ:FTDR) had its price objective lifted by stock analysts at The Goldman Sachs Group from $41.00 to $46.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 15.43% from the stock’s previous close.

FTDR has been the topic of several other research reports. Truist Financial raised their price target on shares of Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. 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 report on Monday, August 12th. Finally, William Blair upgraded shares of Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. One 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.50.

Frontdoor Stock Performance

Shares of NASDAQ:FTDR traded up $1.46 during trading hours on Tuesday, hitting $54.39. The stock had a trading volume of 351,971 shares, compared to its average volume of 722,187. The stock’s fifty day simple moving average is $48.90 and its 200 day simple moving average is $41.32. Frontdoor has a 1-year low of $29.41 and a 1-year high of $54.42. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 20.80 and a beta of 1.03. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.27 and a current ratio of 1.27.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.05 by $0.33. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The company had revenue of $540.00 million for the quarter, compared to analyst estimates of $541.88 million. During the same quarter last year, the business earned $0.94 earnings per share. Frontdoor’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that Frontdoor will post 2.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC bought a new position in shares of Frontdoor in the third quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new stake in Frontdoor during the third quarter worth approximately $31,000. GAMMA Investing LLC boosted its holdings in Frontdoor by 90.7% during the second quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock worth $30,000 after buying an additional 418 shares in the last quarter. Quarry LP boosted its stake in Frontdoor by 468.1% in the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock worth $37,000 after purchasing an additional 894 shares during the period. Finally, Covestor Ltd grew its holdings in shares of Frontdoor by 288.6% during the 1st quarter. Covestor Ltd now owns 1,154 shares of the company’s stock valued at $38,000 after acquiring an additional 857 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.