Frontdoor, Inc. (NASDAQ:FTDR) Short Interest Down 5.5% in September

Frontdoor, Inc. (NASDAQ:FTDR) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 2,770,000 shares, a decline of 5.5% from the August 31st total of 2,930,000 shares. Based on an average daily volume of 799,600 shares, the short-interest ratio is currently 3.5 days. Currently, 3.6% of the company’s stock are sold short.

Frontdoor Trading Down 1.8 %

Shares of Frontdoor stock opened at $47.11 on Wednesday. The firm has a market cap of $3.66 billion, a PE ratio of 20.66 and a beta of 1.04. Frontdoor has a 1 year low of $28.25 and a 1 year high of $49.43. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a fifty day moving average price of $45.92 and a 200-day moving average price of $38.04.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.27. The business had revenue of $542.00 million during the quarter, compared to the consensus estimate of $536.74 million. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 earnings per share. Equities research analysts anticipate that Frontdoor will post 2.79 EPS for the current year.

Institutional Investors Weigh In On Frontdoor

A number of hedge funds have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Frontdoor by 357.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 140,800 shares of the company’s stock valued at $4,758,000 after purchasing an additional 110,000 shares during the period. Aristides Capital LLC purchased a new position in shares of Frontdoor during the 2nd quarter valued at $243,000. Quarry LP grew its stake in shares of Frontdoor by 468.1% during the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock worth $37,000 after acquiring an additional 894 shares during the period. Creative Planning increased its holdings in Frontdoor by 7.1% in the 2nd quarter. Creative Planning now owns 15,691 shares of the company’s stock worth $530,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in Frontdoor by 7.9% during the second quarter. Algert Global LLC now owns 343,551 shares of the company’s stock valued at $11,609,000 after purchasing an additional 25,275 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FTDR. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. The Goldman Sachs Group raised their price target on shares of Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Finally, Truist Financial upped their price objective on shares of Frontdoor from $45.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.75.

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.