First Advantage (NYSE:FA) Hits New 1-Year High – Still a Buy?

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

Wall Street Analysts Forecast Growth

FA has been the topic of several recent research reports. Truist Financial dropped their target price on First Advantage from $250.00 to $249.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Citigroup increased their price objective on shares of First Advantage from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Wolfe Research lowered First Advantage from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, First Advantage presently has an average rating of “Moderate Buy” and a consensus price target of $77.25.

First Advantage Stock Performance

The company has a market cap of $2.73 billion, a price-to-earnings ratio of 116.06 and a beta of 1.18. 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 stock’s fifty day simple moving average is $19.16 and its 200 day simple moving average is $17.59.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of First Advantage by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 418,580 shares of the company’s stock worth $8,309,000 after buying an additional 5,361 shares during the period. Intech Investment Management LLC acquired a new position in shares of First Advantage in the 3rd quarter valued at $250,000. Jennison Associates LLC purchased a new position in shares of First Advantage in the 3rd quarter valued at $6,628,000. LMR Partners LLP raised its stake in First Advantage by 104.3% during the 3rd quarter. LMR Partners LLP now owns 26,246 shares of the company’s stock worth $521,000 after acquiring an additional 13,400 shares in the last quarter. Finally, Natixis Advisors LLC purchased a new stake in First Advantage in the third quarter valued at $298,000. 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.