Frontdoor (NASDAQ:FTDR) Sees Strong Trading Volume – Here’s What Happened

Frontdoor, Inc. (NASDAQ:FTDR) saw unusually-strong trading volume on Tuesday . Approximately 1,585,287 shares traded hands during trading, an increase of 125% from the previous session’s volume of 703,199 shares.The stock last traded at $56.94 and had previously closed at $55.68.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Truist Financial upped their price objective on Frontdoor from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group raised their price target on shares of Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Frontdoor presently has an average rating of “Hold” and a consensus price target of $49.50.

Frontdoor Stock Up 1.8 %

The business has a 50-day moving average price of $56.80 and a 200-day moving average price of $49.13. The stock has a market cap of $4.30 billion, a PE ratio of 18.76 and a beta of 1.08. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.33. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The business had revenue of $540.00 million for the quarter, compared to the consensus estimate of $541.88 million. During the same period last year, the firm posted $0.94 earnings per share. The company’s revenue was up 3.1% compared to the same quarter last year. As a group, analysts forecast that Frontdoor, Inc. will post 3.14 earnings per share for the current year.

Insider Buying and Selling at Frontdoor

In other news, SVP Kathryn M. Collins sold 25,784 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $58.06, for a total value of $1,497,019.04. Following the transaction, the senior vice president now directly owns 9,429 shares of the company’s stock, valued at approximately $547,447.74. This trade represents a 73.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Evan Iverson sold 16,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $58.84, for a total transaction of $941,440.00. Following the completion of the sale, the chief operating officer now owns 4,955 shares of the company’s stock, valued at approximately $291,552.20. The trade was a 76.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Frontdoor

Institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in Frontdoor by 10.1% in the second quarter. American Century Companies Inc. now owns 142,627 shares of the company’s stock valued at $4,819,000 after acquiring an additional 13,093 shares during the last quarter. BOKF NA acquired a new position in shares of Frontdoor in the 2nd quarter valued at $493,000. Oppenheimer Asset Management Inc. grew its holdings in shares of Frontdoor by 69.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,179 shares of the company’s stock worth $614,000 after purchasing an additional 7,420 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Frontdoor by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,787,539 shares of the company’s stock worth $60,402,000 after purchasing an additional 89,301 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Frontdoor by 23.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,546,519 shares of the company’s stock valued at $52,257,000 after buying an additional 291,700 shares during the period.

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.