First Advantage (NYSE:FA) Sees Unusually-High Trading Volume – Time to Buy?

Shares of First Advantage Co. (NYSE:FA) saw an uptick in trading volume on Wednesday . 1,526,861 shares were traded during mid-day trading, an increase of 123% from the previous session’s volume of 686,075 shares.The stock last traded at $14.70 and had previously closed at $14.43.

Analysts Set New Price Targets

FA has been the subject of a number of research analyst reports. BMO Capital Markets decreased their price objective on shares of First Advantage from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. William Blair reiterated an “outperform” rating on shares of First Advantage in a report on Friday, February 28th. Barclays decreased their target price on First Advantage from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of First Advantage in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.80.

First Advantage Price Performance

The firm has a 50-day simple moving average of $16.52 and a 200-day simple moving average of $18.07. The firm has a market cap of $2.56 billion, a P/E ratio of 492.33 and a beta of 1.21. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.61.

Institutional Investors Weigh In On First Advantage

A number of institutional investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. lifted its position in shares of First Advantage by 15.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,267 shares of the company’s stock valued at $117,000 after buying an additional 832 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in First Advantage in the fourth quarter valued at approximately $132,000. Two Sigma Securities LLC purchased a new position in First Advantage in the fourth quarter worth $188,000. Tower Research Capital LLC TRC increased its position in shares of First Advantage by 1,219.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,555 shares of the company’s stock worth $198,000 after purchasing an additional 9,755 shares in the last quarter. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of First Advantage during the 4th quarter valued at $210,000. Institutional investors own 94.91% of the company’s stock.

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.