Frontdoor (NASDAQ:FTDR) Stock Price Down 10% – What’s Next?

Shares of Frontdoor, Inc. (NASDAQ:FTDR) dropped 10% during trading on Thursday . The stock traded as low as $51.81 and last traded at $51.44. Approximately 232,853 shares changed hands during trading, a decline of 63% from the average daily volume of 624,226 shares. The stock had previously closed at $57.17.

Wall Street Analyst Weigh In

FTDR has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Truist Financial increased their price target on Frontdoor from $58.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.75.

Frontdoor Trading Down 1.6 %

The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 15.06 and a beta of 1.08. The company’s 50-day moving average price is $57.46 and its 200-day moving average price is $53.67. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16.

Insider Buying and Selling

In related news, COO Evan Iverson sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $58.84, for a total transaction of $941,440.00. Following the completion of the sale, the chief operating officer now directly owns 4,955 shares in the company, valued at approximately $291,552.20. The trade was a 76.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kathryn M. Collins sold 25,784 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $58.06, for a total value of $1,497,019.04. Following the completion of the transaction, the senior vice president now owns 9,429 shares in the company, valued at $547,447.74. The trade was a 73.22 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Frontdoor

A number of hedge funds have recently modified their holdings of the business. Creative Planning raised its holdings in Frontdoor by 21.5% in the 3rd quarter. Creative Planning now owns 19,061 shares of the company’s stock valued at $915,000 after acquiring an additional 3,370 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Frontdoor by 11.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 12,804 shares of the company’s stock valued at $617,000 after purchasing an additional 1,300 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Frontdoor by 16.8% in the third quarter. New York State Teachers Retirement System now owns 41,084 shares of the company’s stock valued at $1,972,000 after purchasing an additional 5,895 shares during the last quarter. US Bancorp DE lifted its position in Frontdoor by 1,751.2% during the third quarter. US Bancorp DE now owns 6,831 shares of the company’s stock worth $328,000 after buying an additional 6,462 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Frontdoor by 5,840.8% during the third quarter. Farther Finance Advisors LLC now owns 10,634 shares of the company’s stock worth $510,000 after buying an additional 10,455 shares during the last quarter.

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.