Frontdoor (FTDR) Trading Up 5.7% After Insider Buying Activity

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Frontdoor Inc (NASDAQ:FTDR) was up 5.7% during mid-day trading on Wednesday following insider buying activity. The company traded as high as $41.08 and last traded at $40.79. Approximately 1,548,486 shares were traded during trading, an increase of 156% from the average daily volume of 604,950 shares. The stock had previously closed at $38.59.

Specifically, Director Peter L. Cella acquired 7,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were bought at an average price of $38.47 per share, with a total value of $269,290.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

A number of research analysts have issued reports on FTDR shares. Compass Point reaffirmed a “buy” rating and issued a $47.50 target price (up from $45.00) on shares of Frontdoor in a report on Thursday, May 9th. SunTrust Banks restated a “buy” rating and set a $45.00 target price (up previously from $40.00) on shares of Frontdoor in a report on Tuesday, May 7th. Guggenheim started coverage on shares of Frontdoor in a report on Monday, April 8th. They issued a “buy” rating and a $40.00 price objective on the stock. Goldman Sachs Group started coverage on shares of Frontdoor in a report on Wednesday, April 24th. They issued a “buy” rating and a $41.00 price objective on the stock. Finally, Buckingham Research boosted their price objective on shares of Frontdoor from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Frontdoor presently has a consensus rating of “Buy” and an average price target of $42.99.

The firm has a market capitalization of $3.25 billion and a P/E ratio of 23.05.

Frontdoor (NASDAQ:FTDR) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07. The firm had revenue of $271.00 million during the quarter, compared to analyst estimates of $268.69 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that Frontdoor Inc will post 1.49 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of FTDR. Rockefeller Capital Management L.P. bought a new stake in shares of Frontdoor in the 1st quarter worth about $27,000. US Bancorp DE bought a new stake in shares of Frontdoor during the 1st quarter valued at about $28,000. Synovus Financial Corp bought a new stake in shares of Frontdoor during the 1st quarter valued at about $29,000. Sterling Investment Advisors Ltd. bought a new position in Frontdoor in the 1st quarter worth about $34,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Frontdoor in the 1st quarter worth about $47,000. Hedge funds and other institutional investors own 79.87% of the company’s stock.

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About Frontdoor (NASDAQ:FTDR)

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.

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