Frontdoor, Inc. (NASDAQ:FTDR) Short Interest Down 10.3% in March

Frontdoor, Inc. (NASDAQ:FTDR) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 2,950,000 shares, a decline of 10.3% from the March 15th total of 3,290,000 shares. Approximately 3.8% of the company’s stock are short sold. Based on an average daily volume of 749,400 shares, the days-to-cover ratio is currently 3.9 days.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped their price target on Frontdoor from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $39.40.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FTDR. Quarry LP raised its stake in Frontdoor by 340.9% in the 1st quarter. Quarry LP now owns 1,067 shares of the company’s stock valued at $30,000 after purchasing an additional 825 shares during the last quarter. US Bancorp DE increased its stake in shares of Frontdoor by 240.7% in the 4th quarter. US Bancorp DE now owns 920 shares of the company’s stock worth $32,000 after acquiring an additional 650 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of Frontdoor in the 4th quarter worth $33,000. Financial Management Professionals Inc. acquired a new stake in shares of Frontdoor in the 4th quarter worth $49,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Frontdoor by 9,892.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,399 shares of the company’s stock worth $49,000 after acquiring an additional 1,385 shares during the last quarter.

Frontdoor Stock Performance

Frontdoor stock traded down $0.26 during mid-day trading on Wednesday, hitting $29.69. The company had a trading volume of 25,428 shares, compared to its average volume of 731,802. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.24. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 14.13 and a beta of 0.89. The company’s fifty day moving average is $31.69 and its 200-day moving average is $32.71. Frontdoor has a 12-month low of $26.09 and a 12-month high of $38.97.

Frontdoor (NASDAQ:FTDR) last announced its earnings results on Wednesday, February 28th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.18. The business had revenue of $366.00 million during the quarter, compared to the consensus estimate of $360.47 million. Frontdoor had a return on equity of 142.80% and a net margin of 9.66%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 EPS. Equities research analysts predict that Frontdoor will post 2.35 EPS for the current year.

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.