JPMorgan Chase & Co. Increases Frontdoor (NASDAQ:FTDR) Price Target to $55.00

Frontdoor (NASDAQ:FTDR) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $45.00 to $55.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 19.57% from the stock’s current price.

Several other equities analysts have also recently weighed in on FTDR. Truist Financial lifted their price target on Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price target on Frontdoor from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Finally, William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $47.75.

Frontdoor Stock Performance

NASDAQ:FTDR opened at $46.00 on Monday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.14. The business has a fifty day simple moving average of $37.30 and a two-hundred day simple moving average of $34.31. Frontdoor has a 1 year low of $28.25 and a 1 year high of $48.22. The company has a market capitalization of $3.58 billion, a P/E ratio of 20.18 and a beta of 0.99.

Frontdoor (NASDAQ:FTDR) last released its earnings results 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. Frontdoor had a return on equity of 132.94% and a net margin of 11.38%. The business had revenue of $542.00 million during the quarter, compared to the consensus estimate of $536.74 million. During the same period last year, the business posted $0.87 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts expect that Frontdoor will post 2.52 earnings per share for the current year.

Hedge Funds Weigh In On Frontdoor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTDR. Boston Partners grew its position in Frontdoor by 19.7% during 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 in the last quarter. Victory Capital Management Inc. grew its position in Frontdoor by 1,152.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,017,473 shares of the company’s stock worth $35,835,000 after buying an additional 936,209 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Frontdoor by 315.8% during the first quarter. Assenagon Asset Management S.A. now owns 991,370 shares of the company’s stock worth $32,299,000 after buying an additional 752,942 shares in the last quarter. Swedbank AB grew its position in Frontdoor by 112.7% during the second quarter. Swedbank AB now owns 1,210,600 shares of the company’s stock worth $40,906,000 after buying an additional 641,476 shares in the last quarter. Finally, Norges Bank purchased a new position in Frontdoor during the fourth quarter worth about $18,725,000.

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.