First Advantage (NYSE:FA) Hits New 12-Month Low - What's Next?

Shares of First Advantage Co. (NYSE:FA - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $11.50 and last traded at $13.22, with a volume of 250 shares. The stock had previously closed at $13.62.

Wall Street Analyst Weigh In

FA has been the topic of a number of research reports. BMO Capital Markets dropped their price target on shares of First Advantage from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. William Blair reissued an "outperform" rating on shares of First Advantage in a research note on Friday, February 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $22.00 price objective on shares of First Advantage in a research report on Thursday, January 23rd. Finally, Barclays restated an "equal weight" rating and set a $15.00 price target (down previously from $20.00) on shares of First Advantage in a research note on Thursday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.80.

First Advantage Stock Performance

The stock's 50-day moving average price is $15.57 and its 200 day moving average price is $17.70. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.61. The company has a market cap of $2.55 billion, a P/E ratio of 490.33 and a beta of 1.20.

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Hedge Funds Weigh In On First Advantage

A number of institutional investors have recently made changes to their positions in FA. Summit Investment Advisors Inc. grew its holdings in First Advantage by 15.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,267 shares of the company's stock valued at $117,000 after buying an additional 832 shares during the last quarter. Advisory Research Inc. grew its stake in shares of First Advantage by 0.6% in the fourth quarter. Advisory Research Inc. now owns 212,446 shares of the company's stock worth $3,979,000 after acquiring an additional 1,216 shares during the last quarter. Corebridge Financial Inc. increased its position in First Advantage by 9.6% during the fourth quarter. Corebridge Financial Inc. now owns 29,784 shares of the company's stock worth $558,000 after acquiring an additional 2,607 shares during the period. Oppenheimer Asset Management Inc. raised its stake in First Advantage by 17.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 19,626 shares of the company's stock valued at $368,000 after purchasing an additional 2,938 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in First Advantage by 7.2% in the 4th quarter. Alliancebernstein L.P. now owns 59,600 shares of the company's stock valued at $1,116,000 after purchasing an additional 4,000 shares during the period. 94.91% of the stock is currently owned by institutional investors.

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.