Frontdoor, Inc. (NASDAQ:FTDR) Short Interest Update

Frontdoor, Inc. (NASDAQ:FTDR) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,930,000 shares, an increase of 6.9% from the August 15th total of 2,740,000 shares. Based on an average daily volume of 787,800 shares, the short-interest ratio is presently 3.7 days. Currently, 3.9% of the shares of the company are sold short.

Institutional Trading of Frontdoor

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Frontdoor by 90.7% in the second quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock valued at $30,000 after purchasing an additional 418 shares in the last quarter. Isthmus Partners LLC increased its holdings in shares of Frontdoor by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 110,249 shares of the company’s stock worth $37,000 after buying an additional 603 shares during the last quarter. Quarry LP raised its position in shares of Frontdoor by 468.1% during the 2nd quarter. Quarry LP now owns 1,085 shares of the company’s stock valued at $37,000 after buying an additional 894 shares in the last quarter. Covestor Ltd lifted 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 worth $38,000 after acquiring an additional 857 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in Frontdoor in the fourth quarter worth $71,000.

Frontdoor Stock Performance

Frontdoor stock opened at $48.50 on Tuesday. The firm’s 50 day simple moving average is $43.13 and its 200 day simple moving average is $36.70. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.66. Frontdoor has a 1-year low of $28.25 and a 1-year high of $49.21. The firm has a market capitalization of $3.77 billion, a PE ratio of 21.22 and a beta of 1.04.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.27. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The firm had revenue of $542.00 million for the quarter, compared to analysts’ expectations of $536.74 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts expect that Frontdoor will post 2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised 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. Truist Financial increased their target price on Frontdoor from $45.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.75.

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.