Frontdoor (NASDAQ:FTDR) Given New $56.00 Price Target at Truist Financial

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

Other analysts also recently issued research reports about the stock. William Blair raised shares of Frontdoor from a market perform rating to an outperform rating in a report on Friday. Wells Fargo & Company lifted their price objective on Frontdoor from $36.00 to $39.00 and gave the stock an equal weight rating in a report on Monday, May 6th.

Frontdoor Stock Performance

NASDAQ:FTDR traded up $1.03 during mid-day trading on Friday, reaching $44.71. The stock had a trading volume of 923,771 shares, compared to its average volume of 758,331. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.14 and a current ratio of 1.27. The business has a 50 day simple moving average of $35.99 and a 200 day simple moving average of $33.75. Frontdoor has a twelve month low of $28.25 and a twelve month high of $48.22. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.16 and a beta of 0.99.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings results 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. The firm had revenue of $542.00 million for the quarter, compared to the consensus estimate of $536.74 million. Frontdoor had a return on equity of 132.94% and a net margin of 11.38%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. On average, analysts expect that Frontdoor will post 2.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Frontdoor

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position 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 acquiring an additional 418 shares during the last quarter. Covestor Ltd boosted its stake in Frontdoor by 288.6% in the 1st quarter. Covestor Ltd now owns 1,154 shares of the company’s stock worth $38,000 after buying an additional 857 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Frontdoor by 9,892.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,399 shares of the company’s stock valued at $49,000 after buying an additional 1,385 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in shares of Frontdoor during the 4th quarter worth about $71,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Frontdoor by 13.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,839 shares of the company’s stock worth $100,000 after acquiring an additional 341 shares during the period.

Frontdoor Company Profile

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.