Frontdoor (NASDAQ:FTDR) Stock Price Target Raised at The Goldman Sachs Group

Frontdoor (NASDAQ:FTDR) had its price target boosted by equities research analysts at The Goldman Sachs Group from $81.00 to $93.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group‘s target price indicates a potential downside of 7.48% from the company’s current price.

A number of other brokerages have also recently commented on FTDR. Truist Financial increased their target price on shares of Frontdoor from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. assumed coverage on shares of Frontdoor in a research report on Monday, August 24th. They set a “neutral” rating and a $95.00 price target on the stock. Benchmark upped their price objective on shares of Frontdoor from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Oppenheimer increased their price objective on shares of Frontdoor from $70.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of Frontdoor from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, October 21st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Frontdoor has an average rating of “Moderate Buy” and an average price target of $99.80.

Frontdoor Price Performance

Shares of FTDR traded up $3.43 during trading hours on Monday, hitting $100.52. 465,775 shares of the stock were exchanged, compared to its average volume of 613,848. The stock’s 50-day moving average price is $80.90 and its two-hundred day moving average price is $70.15. Frontdoor has a 12-month low of $48.47 and a 12-month high of $103.07. The company has a debt-to-equity ratio of 3.57, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 25.12 and a beta of 1.60.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Thursday, November 5th. The company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Frontdoor had a return on equity of 124.74% and a net margin of 12.96%. The company had revenue of $655.00 million for the quarter, compared to analyst estimates of $647.73 million. During the same quarter last year, the firm posted $1.58 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts expect that Frontdoor will post 4.73 earnings per share for the current year.

Institutional Trading of Frontdoor

A number of hedge funds and other institutional investors have recently modified their holdings of FTDR. Ieq Capital LLC purchased a new stake in Frontdoor in the second quarter valued at approximately $1,441,000. Amundi lifted its stake in Frontdoor by 331.8% during the second quarter. Amundi now owns 100,134 shares of the company’s stock worth $7,769,000 after purchasing an additional 76,942 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Frontdoor during the second quarter worth $1,591,000. Bank of America Corp DE purchased a new position in shares of Frontdoor during the second quarter worth $46,580,000. Finally, Ancora Advisors LLC boosted its position in shares of Frontdoor by 32.4% during the second quarter. Ancora Advisors LLC now owns 122,875 shares of the company’s stock worth $9,534,000 after buying an additional 30,090 shares during the period.

Frontdoor Company Profile

Frontdoor, Inc provides home service plans and repair solutions in the United States. Its plans help homeowners manage the cost of repairing or replacing covered home systems and appliances, such as heating and cooling equipment, plumbing, and kitchen appliances.

The company serves customers through brands including American Home Shield, HSA Home Warranty, and OneGuard Home Warranties. It also connects customers with a network of independent service contractors and offers digital tools and support to help arrange home repairs.

Frontdoor became an independent publicly traded company in 2018 after being spun off from ServiceMaster Global Holdings.