Frontdoor (NASDAQ:FTDR) Sees Large Volume Increase – Here’s What Happened

Shares of Frontdoor, Inc. (NASDAQ:FTDR) saw strong trading volume on Tuesday . 1,585,287 shares changed hands during mid-day 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.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Truist Financial boosted their price target on Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group boosted their target price 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 research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $49.50.

Frontdoor Price Performance

The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 18.89 and a beta of 1.08. The business has a fifty day moving average price of $56.81 and a 200 day moving average price of $49.39.

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

Insider Activity at Frontdoor

In other Frontdoor news, COO Evan Iverson sold 16,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $58.84, for a total value of $941,440.00. Following the completion of the transaction, the chief operating officer now owns 4,955 shares of the company’s stock, valued at $291,552.20. This represents a 76.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kathryn M. Collins sold 25,784 shares of the 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 completion of the transaction, the senior vice president now owns 9,429 shares of the company’s stock, valued at $547,447.74. This represents a 73.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Frontdoor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new stake in shares of Frontdoor in the third quarter worth $27,000. V Square Quantitative Management LLC bought a new stake in shares of Frontdoor in the 3rd quarter valued at about $31,000. Quarry LP raised its position in shares of Frontdoor by 468.1% during the second quarter. Quarry LP now owns 1,085 shares of the company’s stock worth $37,000 after acquiring an additional 894 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Frontdoor in the fourth quarter worth approximately $60,000. Finally, TD Private Client Wealth LLC bought a new stake in Frontdoor in the third quarter valued at approximately $68,000.

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.