First Advantage (NYSE:FA) Announces Quarterly Earnings Results, Hits Estimates

First Advantage (NYSE:FA) released its earnings results on Thursday. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21, Briefing.com reports. First Advantage had a return on equity of 14.12% and a net margin of 4.28%. The firm had revenue of $184.55 million during the quarter, compared to analysts’ expectations of $184.66 million. During the same period in the previous year, the firm posted $0.24 EPS. First Advantage’s revenue for the quarter was down .4% on a year-over-year basis. First Advantage updated its FY24 guidance to $0.88 to $0.98 EPS and its FY 2024 guidance to 0.880-0.980 EPS.

First Advantage Stock Down 1.1 %

NYSE FA traded down $0.19 during trading on Friday, reaching $16.98. 498,098 shares of the company’s stock were exchanged, compared to its average volume of 432,819. First Advantage has a 1 year low of $12.46 and a 1 year high of $17.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.29 and a current ratio of 4.29. The stock has a market cap of $2.47 billion, a P/E ratio of 77.18, a price-to-earnings-growth ratio of 3.27 and a beta of 1.14. The company has a 50 day moving average price of $16.41 and a two-hundred day moving average price of $16.30.

Insider Activity

In other news, Director James Lindsey Clark sold 2,100 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $15.48, for a total value of $32,508.00. Following the completion of the sale, the director now directly owns 42,927 shares of the company’s stock, valued at approximately $664,509.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Advantage news, Director James Lindsey Clark sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $15.48, for a total transaction of $32,508.00. Following the completion of the sale, the director now directly owns 42,927 shares of the company’s stock, valued at approximately $664,509.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph K. Jaeger sold 7,331 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $16.08, for a total value of $117,882.48. Following the sale, the insider now directly owns 688,967 shares of the company’s stock, valued at $11,078,589.36. The disclosure for this sale can be found here. In the last three months, insiders sold 15,034 shares of company stock valued at $241,439. Insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Truist Financial lowered their target price on First Advantage from $250.00 to $249.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Needham & Company LLC reissued a “hold” rating on shares of First Advantage in a research note on Monday, May 13th. Finally, William Blair began coverage on First Advantage in a research note on Tuesday, April 23rd. They set an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, First Advantage currently has a consensus rating of “Moderate Buy” and an average price target of $64.20.

First Advantage Company Profile

First Advantage Corporation provides employment background screening, identity, and verification solutions worldwide. It offers pre-onboarding products and solutions, such as criminal background checks, drug/health screening, extended workforce screening, FBI channeling, identity checks and biometric fraud mitigation tools, education/work history verification, driver records and compliance, healthcare credentials, executive screening, and other screening products.