First Advantage (NYSE:FA) Reaches New 52-Week High – Still a Buy?

First Advantage Co. (NYSE:FA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $20.79 and last traded at $18.90, with a volume of 197522 shares changing hands. The stock had previously closed at $18.57.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wolfe Research cut First Advantage from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. Truist Financial lowered their price target on shares of First Advantage from $250.00 to $249.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Citigroup upped their price objective on shares of First Advantage from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.25.

First Advantage Stock Performance

The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 116.06 and a beta of 1.18. The stock has a 50-day simple moving average of $19.16 and a 200-day simple moving average of $17.59.

Institutional Trading of First Advantage

Large investors have recently added to or reduced their stakes in the business. Quarry LP lifted its holdings in shares of First Advantage by 49.7% during the second quarter. Quarry LP now owns 2,607 shares of the company’s stock valued at $42,000 after purchasing an additional 865 shares during the last quarter. Marshall Wace LLP acquired a new position in First Advantage during the second quarter valued at $209,000. Oppenheimer Asset Management Inc. purchased a new stake in First Advantage in the 2nd quarter worth about $211,000. Truist Financial Corp acquired a new stake in First Advantage during the 2nd quarter worth about $234,000. Finally, Intech Investment Management LLC purchased a new position in First Advantage during the 3rd quarter valued at about $250,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.