Fintel reports that on July 7, 2023, Truist Securities maintained coverage of Frontdoor (NASDAQ:FTDR) with a Hold recommendation.
Analyst Price Forecast Suggests 6.38% Downside
As of July 6, 2023, the average one-year price target for Frontdoor is 29.92. The forecasts range from a low of 23.23 to a high of $36.75. The average price target represents a decrease of 6.38% from its latest reported closing price of 31.96.
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The projected annual revenue for Frontdoor is 1,763MM, an increase of 5.07%. The projected annual non-GAAP EPS is 1.35.
What is the Fund Sentiment?
There are 486 funds or institutions reporting positions in Frontdoor. This is a decrease of 16 owner(s) or 3.19% in the last quarter. Average portfolio weight of all funds dedicated to FTDR is 0.17%, an increase of 8.47%. Total shares owned by institutions decreased in the last three months by 4.77% to 103,512K shares. 
The put/call ratio of FTDR is 0.54, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 5,930K shares representing 7.26% ownership of the company. In it's prior filing, the firm reported owning 6,039K shares, representing a decrease of 1.84%. The firm increased its portfolio allocation in FTDR by 27.89% over the last quarter.
Mackenzie Financial holds 5,523K shares representing 6.76% ownership of the company. In it's prior filing, the firm reported owning 5,556K shares, representing a decrease of 0.59%. The firm increased its portfolio allocation in FTDR by 23.23% over the last quarter.
ArrowMark Colorado Holdings holds 4,919K shares representing 6.02% ownership of the company. In it's prior filing, the firm reported owning 8,740K shares, representing a decrease of 77.68%. The firm decreased its portfolio allocation in FTDR by 28.19% over the last quarter.
Boston Partners holds 4,694K shares representing 5.74% ownership of the company. In it's prior filing, the firm reported owning 4,631K shares, representing an increase of 1.34%. The firm increased its portfolio allocation in FTDR by 37.94% over the last quarter.
Janus Henderson Group holds 4,537K shares representing 5.55% ownership of the company. In it's prior filing, the firm reported owning 4,909K shares, representing a decrease of 8.22%. The firm decreased its portfolio allocation in FTDR by 62.13% over the last quarter.
Frontdoor Background Information
(This description is provided by the company.)
Frontdoor is a company that's obsessed with taking the hassle out of owning a home. With services powered by people and enabled by technology, it is the parent company of four home service plan brands: American Home Shield, HSA, Landmark and OneGuard, as well as ProConnect, an on-demand membership service for home repairs and maintenance, and Streem, a technology company that enables businesses to serve customers through an enhanced augmented reality, computer vision and machine learning platform. Frontdoor serves 2.2 million customers across the U.S. through a network of approximately 17,000 pre-qualified contractor firms that employ approximately 60,000 technicians. The company's customizable home service plans help customers protect and maintain their homes from costly and unexpected breakdowns of essential home systems and appliances. With nearly 50 years of experience, the company responds to over four million service requests annually.
Additional reading:
- Frontdoor Announces First-Quarter 2023 Revenue Increased 4% to $367 Million; Cost Pressures Continue to Moderate, Driving Improved First-Quarter Earnings; Launched New Frontdoor Mobile App in April; Company Expects to Repurchase approximately $80 Mil
- Amendment No. 1, dated March 8, 2023, to Amended and Restated Credit Agreement
- Offer Letter dated December 1, 2022, from Frontdoor, Inc. to Jessica Ross.
- Separation and Transition Agreement dated as of December 1, 2022, between Frontdoor, Inc. and Brian K. Turcotte.
- Frontdoor Announces Full-Year 2022 Revenue Increased 4% to $1.66 Billion; Fourth Quarter Financial Results Reflect Moderation of Inflationary Cost Pressures; 2023 Gross Margins Expected to Improve from Aggressive Pricing Actions in 2022; Launching Ne
This story originally appeared on Fintel.
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