Frontdoor (FTDR) Downgraded by Zacks Investment Research to Sell

Frontdoor (NASDAQ:FTDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Frontdoor Inc. is the parent company of home service plan brands consisting of American Home Shield, HSA, Landmark and OneGuard. The company’s customizable home service plans help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. Frontdoor Inc. is based in TN, United States. “

Other analysts have also issued reports about the company. Compass Point reiterated a “buy” rating and set a $47.50 price objective (up from $45.00) on shares of Frontdoor in a report on Thursday, May 9th. SunTrust Banks reiterated a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of Frontdoor in a report on Tuesday, May 7th. Guggenheim initiated coverage on Frontdoor in a report on Monday, April 8th. They set a “buy” rating and a $40.00 price objective for the company. Buckingham Research increased their price objective on Frontdoor from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, Goldman Sachs Group initiated coverage on Frontdoor in a report on Wednesday, April 24th. They set a “buy” rating and a $41.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Frontdoor has a consensus rating of “Buy” and a consensus price target of $42.99.

Shares of FTDR traded up $2.20 during mid-day trading on Wednesday, reaching $40.79. The company’s stock had a trading volume of 1,548,486 shares, compared to its average volume of 604,950. Frontdoor has a 1 year low of $20.66 and a 1 year high of $49.92. The firm has a market capitalization of $3.25 billion and a P/E ratio of 23.05.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.07. The firm had revenue of $271.00 million for the quarter, compared to analysts’ expectations of $268.69 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. Frontdoor’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that Frontdoor will post 1.49 earnings per share for the current year.

In other Frontdoor news, Director Peter L. Cella bought 7,000 shares of the stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $38.47 per share, with a total value of $269,290.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC acquired a new position in Frontdoor during the first quarter worth $210,453,000. Iridian Asset Management LLC CT acquired a new position in Frontdoor during the first quarter worth $145,676,000. FIL Ltd acquired a new position in Frontdoor during the first quarter worth $116,498,000. BlackRock Inc. acquired a new position in Frontdoor during the first quarter worth $114,125,000. Finally, ArrowMark Colorado Holdings LLC acquired a new position in Frontdoor during the first quarter worth $102,559,000. 79.87% of the stock is currently owned by hedge funds and other institutional investors.

About Frontdoor

frontdoor, inc. provides home service plans in the United States. The company's home service plans cover the repair or replacement of components of up to 21 household systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as central heating, ventilation and air conditioning systems.

See Also: Intrinsic Value

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Analyst Recommendations for Frontdoor (NASDAQ:FTDR)

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