Frontdoor, Inc. (NASDAQ:FTDR) Short Interest Down 10.3% in March

Frontdoor, Inc. (NASDAQ:FTDR) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 2,950,000 shares, a decline of 10.3% from the March 15th total of 3,290,000 shares. Based on an average trading volume of 749,400 shares, the days-to-cover ratio is presently 3.9 days. Currently, 3.8% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their price target on Frontdoor from $40.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $39.40.

Frontdoor Trading Down 0.9 %

Frontdoor stock traded down $0.26 during trading on Wednesday, hitting $29.69. The company’s stock had a trading volume of 25,428 shares, compared to its average volume of 731,802. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 14.13 and a beta of 0.89. The stock’s fifty day moving average is $31.69 and its 200 day moving average is $32.71. Frontdoor has a 1-year low of $26.09 and a 1-year high of $38.97. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.10 and a current ratio of 1.10.

Frontdoor (NASDAQ:FTDR) last released its earnings results on Wednesday, February 28th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.02 by $0.18. The firm had revenue of $366.00 million during the quarter, compared to analyst estimates of $360.47 million. Frontdoor had a return on equity of 142.80% and a net margin of 9.66%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities research analysts predict that Frontdoor will post 2.35 EPS for the current year.

Hedge Funds Weigh In On Frontdoor

Several institutional investors have recently added to or reduced their stakes in FTDR. BlackRock Inc. increased its stake in Frontdoor by 5.9% during the second quarter. BlackRock Inc. now owns 13,891,766 shares of the company’s stock worth $443,147,000 after acquiring an additional 769,145 shares during the last quarter. Vanguard Group Inc. increased its stake in Frontdoor by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 9,806,048 shares of the company’s stock worth $345,369,000 after acquiring an additional 249,789 shares during the last quarter. Boston Partners boosted its position in shares of Frontdoor by 19.7% in the fourth quarter. Boston Partners now owns 5,692,326 shares of the company’s stock worth $200,186,000 after buying an additional 938,541 shares during the period. Mackenzie Financial Corp boosted its position in shares of Frontdoor by 3.5% in the fourth quarter. Mackenzie Financial Corp now owns 5,555,863 shares of the company’s stock worth $115,562,000 after buying an additional 189,141 shares during the period. Finally, State Street Corp boosted its position in shares of Frontdoor by 41.1% in the third quarter. State Street Corp now owns 4,154,233 shares of the company’s stock worth $84,705,000 after buying an additional 1,210,749 shares during the period.

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.