Frontdoor (FTDR) Stock Price Down 7.2% Following Analyst Downgrade

Frontdoor Inc (NASDAQ:FTDR) shares traded down 7.2% during trading on Wednesday after Compass Point lowered their price target on the stock from $51.75 to $42.00. Compass Point currently has a buy rating on the stock. Frontdoor traded as low as $22.75 and last traded at $23.09. 16,975 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 975,015 shares. The stock had previously closed at $24.88.

FTDR has been the subject of a number of other research reports. CIBC assumed coverage on Frontdoor in a research note on Tuesday, October 2nd. They issued an “outperform” rating and a $48.00 target price for the company. Oppenheimer set a $40.00 target price on Frontdoor and gave the company a “buy” rating in a research note on Monday. UBS Group cut Frontdoor from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Gabelli assumed coverage on Frontdoor in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $55.00 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $46.25.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings data on Monday, November 5th. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $377.00 million for the quarter, compared to the consensus estimate of $369.50 million. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that Frontdoor Inc will post 1.62 earnings per share for the current fiscal year.

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About Frontdoor (NASDAQ:FTDR)

frontdoor, inc. operates a home services platform that provides home service plans to homeowners in the United States. It provides services under the HSA, OneGuard, Landmark, and American Home Shield brand names. The company serves homeowners who require assistance with technical home repair issues by utilizing its network of pre-qualified professional contractor firms.

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