First Advantage (NYSE:FA) Issues Earnings Results

First Advantage (NYSE:FA) released its earnings results on Thursday. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21, Briefing.com reports. The firm had revenue of $184.55 million during the quarter, compared to the consensus estimate of $184.66 million. First Advantage had a return on equity of 14.12% and a net margin of 4.28%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 earnings per share. 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 hours on Friday, reaching $16.98. The company’s stock had a trading volume of 498,098 shares, compared to its average volume of 432,819. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 77.18, a price-to-earnings-growth ratio of 3.27 and a beta of 1.14. First Advantage has a one year low of $12.46 and a one year high of $17.49. The business’s 50-day moving average is $16.41 and its 200-day moving average is $16.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.29 and a quick ratio of 4.29.

Insider Buying and Selling

In related news, Director James Lindsey Clark sold 2,100 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were 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 in the company, valued at $664,509.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other First Advantage news, Director James Lindsey Clark sold 2,100 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were 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 in the company, valued at $664,509.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owns 688,967 shares of the company’s stock, valued at $11,078,589.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,034 shares of company stock worth $241,439. Corporate insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.