The Vanguard Group, Inc. recently announced the acquisition of new stake in Frontdoor Inc. (NASDAQ:FTDR). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.16% to 8.73 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 10.71% valued currently at $238.76 million. In addition, Boston Partners Global Investors, raised its holdings by 62847.0 to 4.69 million shares. And Fidelity Investments Canada ULC has lifted its position by 0.02% or 681.0 shares – to 3.26 million shares.
With over 2.5 million Frontdoor Inc. (FTDR) shares trading Friday and a closing price of $31.03 on the day, the dollar volume was approximately $77.7 million. The shares have shown a positive half year performance of 28.17% and its price on 05/19/23 lost nearly -0.86%. Currently, there are 81.50M common shares owned by the public and among those 81.20M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for FTDR have a consensus price objective of $32.00. The analysts have set the share’s price value over the next 12 months at a high of $38.00 and a low of $23.00. The average price target is -5.8% below its recent price level and a downside to the estimated low will see the stock lose -34.91% over that period. But an upside of 18.34% will see the stock hit the forecast high price target while median target price for the stock is $34.00.
Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 34,050 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 6,611 shares.
The top 3 mutual fund holders in Frontdoor Inc. are iShares Core S&P Small Cap ETF, Janus Henderson Enterprise Fund, and John Hancock III – Disciplined Va. iShares Core S&P Small Cap ETF owns 5.91 million shares of the company’s stock, all valued at over $161.56 million. The company sold 8143.0 shares recently to bring their total holdings to about 7.25% of the shares outstanding. John Hancock III – Disciplined Va bought 46858.0 shares to bring its total holdings to over 3.43 million shares at a value of $93.87 million. John Hancock III – Disciplined Va now owns shares totaling to 4.21% of the shares outstanding.
Shares of Frontdoor Inc. (NASDAQ: FTDR) opened at $31.54, up $0.24 from a prior closing price of $31.30. However, the script later moved the day high at 31.54, down -0.86%. The company’s stock has a 5-day price change of -1.68% and 9.22% over the past three months. FTDR shares are trading 49.18% year to date (YTD), with the 12-month market performance up to 16.04% higher. It has a 12-month low price of $19.06 and touched a high of $33.88 over the same period. FTDR has an average intraday trading volume of 1.01 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.63%, 11.78%, and 25.25% respectively.
Institutional ownership of Frontdoor Inc. (NASDAQ: FTDR) shares accounts for 113.04% of the company’s 81.50M shares outstanding. Mutual fund holders own 31.11%, while other institutional holders and individual stakeholders account for 72.23% and 20.96% respectively.
It has a market capitalization of $2.56B and a beta (3y monthly) value of 0.74. The stock’s trailing 12-month PE ratio is 27.93, while the earnings-per-share (ttm) stands at $1.11. The company has a PEG of 2.10 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 7.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.78% over the week and 3.10% over the month.
Analysts forecast that Frontdoor Inc. (FTDR) will achieve an EPS of $0.55 for the current quarter, $0.45 for the next quarter and $1.68 for 2024. The lowest estimate earnings-per-share for the quarter is $0.51 while analysts give the company a high EPS estimate of $0.6. Comparatively, EPS for the current quarter was $0.53 a year ago. Earnings per share for the fiscal year are expected to decrease by -42.20%, and 26.68% over the next financial year. EPS should grow at an annualized rate of 13.30% over the next five years, compared to -12.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Frontdoor Inc. (FTDR) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 5 of the 8 advise that investors “hold,” and 1 rated it as a “Sell.”
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