Research Analysts Set Expectations for First Advantage Co.’s Q1 2024 Earnings (NYSE:FA)

First Advantage Co. (NYSE:FA) – Equities researchers at William Blair issued their Q1 2024 earnings per share estimates for shares of First Advantage in a research report issued to clients and investors on Tuesday, April 23rd. William Blair analyst A. Nicholas anticipates that the company will post earnings of $0.15 per share for the quarter. William Blair has a “Outperform” rating on the stock. The consensus estimate for First Advantage’s current full-year earnings is $0.91 per share. William Blair also issued estimates for First Advantage’s Q2 2024 earnings at $0.19 EPS, Q3 2024 earnings at $0.24 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.83 EPS and FY2025 earnings at $0.94 EPS.

FA has been the topic of several other research reports. Evercore ISI upped their price objective on First Advantage from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Stifel Nicolaus increased their target price on First Advantage from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, First Advantage presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

First Advantage Price Performance

First Advantage stock opened at $16.41 on Friday. First Advantage has a 12 month low of $12.10 and a 12 month high of $17.49. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $16.01 and its 200 day simple moving average is $15.57. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 65.64, a PEG ratio of 1.97 and a beta of 1.21.

First Advantage (NYSE:FA) last announced its earnings results on Thursday, February 29th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). First Advantage had a return on equity of 13.84% and a net margin of 4.88%. The business had revenue of $202.56 million during the quarter, compared to analysts’ expectations of $211.05 million.

Insider Activity at First Advantage

In other First Advantage news, insider Joseph K. Jaeger sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $16.95, for a total transaction of $339,000.00. Following the sale, the insider now owns 696,298 shares in the company, valued at $11,802,251.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Advantage

Large investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP increased its holdings in shares of First Advantage by 14.6% in the third quarter. Dark Forest Capital Management LP now owns 17,343 shares of the company’s stock worth $239,000 after buying an additional 2,211 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of First Advantage by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 270,122 shares of the company’s stock worth $3,725,000 after buying an additional 2,735 shares during the period. Principal Financial Group Inc. increased its holdings in shares of First Advantage by 16.3% in the fourth quarter. Principal Financial Group Inc. now owns 22,889 shares of the company’s stock worth $379,000 after buying an additional 3,207 shares during the period. Quantbot Technologies LP purchased a new position in shares of First Advantage in the third quarter worth about $60,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of First Advantage by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 406,641 shares of the company’s stock worth $6,738,000 after buying an additional 8,958 shares during the period. Hedge funds and other 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.