Frontdoor, Inc. (NASDAQ:FTDR) Sees Large Decline in Short Interest

Frontdoor, Inc. (NASDAQ:FTDR) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 2,920,000 shares, a drop of 6.7% from the June 30th total of 3,130,000 shares. Based on an average trading volume of 714,400 shares, the short-interest ratio is currently 4.1 days. Currently, 3.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their price target on shares of Frontdoor from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.00.

Frontdoor Price Performance

Frontdoor stock traded down $0.23 during mid-day trading on Wednesday, hitting $39.46. The company’s stock had a trading volume of 1,932,410 shares, compared to its average volume of 739,471. Frontdoor has a twelve month low of $28.25 and a twelve month high of $40.48. The stock’s fifty day moving average price is $35.54 and its two-hundred day moving average price is $33.54. The stock has a market capitalization of $3.07 billion, a P/E ratio of 17.31 and a beta of 1.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 3.54.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.23. The business had revenue of $378.00 million during the quarter, compared to analyst estimates of $376.36 million. Frontdoor had a return on equity of 132.00% and a net margin of 10.27%. Research analysts forecast that Frontdoor will post 2.52 earnings per share for the current year.

Institutional Trading of Frontdoor

Several large investors have recently added to or reduced their stakes in FTDR. nVerses Capital LLC purchased a new stake in shares of Frontdoor in the second quarter worth approximately $128,000. Picton Mahoney Asset Management purchased a new stake in Frontdoor in the 2nd quarter worth approximately $158,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Frontdoor by 1.3% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 415,192 shares of the company’s stock valued at $14,029,000 after buying an additional 5,470 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of Frontdoor during the 2nd quarter valued at $2,019,000. Finally, Legato Capital Management LLC grew its holdings in shares of Frontdoor by 49.4% during the 2nd quarter. Legato Capital Management LLC now owns 23,332 shares of the company’s stock valued at $788,000 after acquiring an additional 7,718 shares in the last quarter.

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.