Frontdoor, Inc. (NASDAQ:FTDR) Sees Significant Increase in Short Interest

Frontdoor, Inc. (NASDAQ:FTDR) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 2,800,000 shares, an increase of 11.1% from the May 15th total of 2,520,000 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 713,700 shares, the short-interest ratio is presently 3.9 days.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upped their price objective on Frontdoor from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.00.

Frontdoor Price Performance

NASDAQ:FTDR opened at $34.89 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 3.54. The company has a market capitalization of $2.71 billion, a P/E ratio of 15.30 and a beta of 1.01. Frontdoor has a 12 month low of $28.25 and a 12 month high of $38.97. The business’s 50-day moving average is $33.78 and its 200 day moving average is $33.37.

Frontdoor (NASDAQ:FTDR) last posted its earnings results on Thursday, May 2nd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.23. The company had revenue of $378.00 million for the quarter, compared to the consensus estimate of $376.36 million. Frontdoor had a return on equity of 132.00% and a net margin of 10.27%. On average, equities research analysts forecast that Frontdoor will post 2.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontdoor

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd boosted its holdings in Frontdoor by 288.6% during the 1st quarter. Covestor Ltd now owns 1,154 shares of the company’s stock valued at $38,000 after acquiring an additional 857 shares during the period. Financial Management Professionals Inc. purchased a new position in Frontdoor during the 4th quarter valued at $49,000. Parkside Financial Bank & Trust boosted its holdings in Frontdoor by 9,892.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,399 shares of the company’s stock valued at $49,000 after acquiring an additional 1,385 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in Frontdoor during the 4th quarter valued at $71,000. Finally, Acadian Asset Management LLC purchased a new position in Frontdoor during the 3rd quarter valued at $88,000.

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.