Key Points
- Frontdoor CEO William Cobb sold 73,113 shares for about $7.25 million at an average price of $99.17, reducing his stake by 28.4% to 184,335 shares.
- Frontdoor beat quarterly estimates, reporting EPS of $1.81 versus $1.77 expected and revenue of $655 million versus $647.73 million; revenue rose 6% year over year.
- Analysts’ consensus rating was Moderate Buy, with an average price target of $99.80; five analysts rated the stock Buy and two rated it Hold.
Frontdoor Inc. (NASDAQ:FTDR - Get Free Report) CEO William Cobb sold 73,113 shares of the stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $99.17, for a total transaction of $7,250,616.21. Following the completion of the transaction, the chief executive officer owned 184,335 shares of the company's stock, valued at $18,280,501.95. This represents a 28.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Frontdoor Price Performance
Frontdoor stock traded up $1.22 during trading hours on Friday, hitting $96.64. 533,036 shares of the company traded hands, compared to its average volume of 824,462. Frontdoor Inc. has a 1-year low of $48.90 and a 1-year high of $103.07. The firm has a market cap of $6.53 billion, a P/E ratio of 24.16 and a beta of 1.60. The firm's 50-day simple moving average is $82.54 and its two-hundred day simple moving average is $71.12. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 3.57.
Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.73 million. Frontdoor had a net margin of 12.96% and a return on equity of 124.74%. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 EPS. As a group, analysts forecast that Frontdoor Inc. will post 4.77 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently commented on FTDR. Oppenheimer boosted their target price on Frontdoor from $70.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. The Goldman Sachs Group upped their target price on Frontdoor from $81.00 to $93.00 and gave the stock a "neutral" rating in a research report on Monday, November 9th. Weiss Ratings raised Frontdoor from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, October 21st. Wolfe Research raised Frontdoor to an "outperform" rating in a research note on Monday, August 24th. Finally, Truist Financial lifted their price target on Frontdoor from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, November 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.80.
View Our Latest Research Report on Frontdoor
Institutional Investors Weigh In On Frontdoor
Hedge funds and other institutional investors have recently bought and sold shares of the business. Pathstone Holdings LLC lifted its holdings in Frontdoor by 23.6% in the 3rd quarter. Pathstone Holdings LLC now owns 26,002 shares of the company's stock valued at $1,901,000 after acquiring an additional 4,959 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Frontdoor by 3.0% during the 3rd quarter. Empowered Funds LLC now owns 372,415 shares of the company's stock valued at $27,231,000 after purchasing an additional 10,959 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Frontdoor by 33.4% during the 3rd quarter. First Trust Advisors LP now owns 181,998 shares of the company's stock valued at $13,308,000 after purchasing an additional 45,612 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Frontdoor during the 3rd quarter valued at about $27,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Frontdoor during the 3rd quarter valued at about $4,176,000.
Frontdoor Company Profile
(
Get Free Report)
Frontdoor, Inc. provides home service plans and repair solutions in the United States. Its plans help homeowners manage the cost of repairing or replacing covered home systems and appliances, such as heating and cooling equipment, plumbing, and kitchen appliances. The company serves customers through brands including American Home Shield, HSA Home Warranty, and OneGuard Home Warranties. It also connects customers with a network of independent service contractors and offers digital tools and support to help arrange home repairs.
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