First Advantage (NYSE:FA) Releases Earnings Results, Meets Expectations

First Advantage (NYSE:FA) issued its quarterly earnings data on Thursday. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21, Briefing.com reports. First Advantage had a net margin of 4.28% and a return on equity of 14.12%. The firm had revenue of $184.55 million during the quarter, compared to the consensus estimate of $184.66 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. 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 Price Performance

FA stock traded down $0.19 during mid-day trading on Friday, hitting $16.98. The company had a trading volume of 498,098 shares, compared to its average volume of 432,819. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 77.18, a P/E/G ratio of 3.27 and a beta of 1.14. First Advantage has a 12-month low of $12.46 and a 12-month high of $17.49. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $16.41 and a 200 day moving average price of $16.30.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other First Advantage news, Director James Lindsey Clark sold 5,603 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $16.25, for a total value of $91,048.75. Following the sale, the director now owns 45,027 shares in the company, valued at approximately $731,688.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Joseph K. Jaeger sold 7,331 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $16.08, for a total transaction of $117,882.48. Following the sale, the insider now directly owns 688,967 shares in the company, valued at approximately $11,078,589.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Lindsey Clark sold 5,603 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $16.25, for a total transaction of $91,048.75. Following the sale, the director now owns 45,027 shares in the company, valued at $731,688.75. The disclosure for this sale can be found here. Insiders have sold a total of 15,034 shares of company stock worth $241,439 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

About First Advantage

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.