Frontdoor Inc (NASDAQ:FTDR) Sees Large Growth in Short Interest

Frontdoor Inc (NASDAQ:FTDR) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 2,160,000 shares, an increase of 10.8% from the August 15th total of 1,950,000 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average daily trading volume, of 566,200 shares, the short-interest ratio is presently 3.8 days.

Several research analysts have commented on FTDR shares. Guggenheim upped their target price on shares of Frontdoor from $43.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. SunTrust Banks set a $50.00 price objective on shares of Frontdoor and gave the company a “buy” rating in a report on Wednesday, August 7th. Buckingham Research cut shares of Frontdoor from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a report on Wednesday, July 31st. Oppenheimer increased their price objective on shares of Frontdoor from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Zacks Investment Research upgraded shares of Frontdoor from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Friday. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Frontdoor has an average rating of “Buy” and an average price target of $47.24.

Shares of NASDAQ:FTDR traded down $0.19 during mid-day trading on Friday, hitting $51.17. The stock had a trading volume of 410,012 shares, compared to its average volume of 368,392. Frontdoor has a 12-month low of $20.66 and a 12-month high of $53.29. The company has a market cap of $4.32 billion and a PE ratio of 28.91. The company’s 50 day moving average is $50.58 and its 200-day moving average is $43.43.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Wednesday, August 7th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.23. Frontdoor had a net margin of 10.57% and a negative return on equity of 44.16%. The company had revenue of $388.00 million during the quarter, compared to the consensus estimate of $387.49 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Frontdoor will post 1.84 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in shares of Frontdoor by 16.0% during the 2nd quarter. BlackRock Inc. now owns 3,847,270 shares of the company’s stock worth $167,549,000 after purchasing an additional 531,642 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Frontdoor by 3.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 673,709 shares of the company’s stock worth $29,340,000 after purchasing an additional 20,900 shares during the last quarter. Riverhead Capital Management LLC acquired a new position in shares of Frontdoor during the 2nd quarter worth $324,000. JPMorgan Chase & Co. increased its stake in shares of Frontdoor by 65.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 71,345 shares of the company’s stock worth $3,092,000 after purchasing an additional 28,203 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Frontdoor during the 2nd quarter worth $1,431,000. Institutional investors own 94.78% of the company’s stock.

Frontdoor Company Profile

frontdoor, inc. provides home service plans in the United States. The company's home service plans cover the repair or replacement of components of up to 21 household systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as central heating, ventilation and air conditioning systems.

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