First Advantage (NYSE:FA) Announces Quarterly Earnings Results

First Advantage (NYSE:FA) released its quarterly earnings data on Thursday. The company reported $0.21 earnings per share (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 analyst estimates of $184.66 million. During the same period in the prior year, the company posted $0.24 earnings per share. The business’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 Stock Down 1.1 %

First Advantage stock traded down $0.19 during midday trading on Friday, reaching $16.98. The stock had a trading volume of 498,098 shares, compared to its average volume of 432,819. The firm’s fifty day simple moving average is $16.41 and its 200-day simple moving average is $16.30. The stock has a market capitalization 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. 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.

Insider Activity at First Advantage

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of First Advantage in a research note on Monday, May 13th. William Blair assumed coverage on First Advantage in a research note on Tuesday, April 23rd. They issued an “outperform” rating for the company. Finally, 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.