Needham & Company LLC Forecasts Strong Price Appreciation for First Advantage (NYSE:FA) Stock

First Advantage (NYSE:FA) had its price objective upped by equities researchers at Needham & Company LLC from $28.00 to $30.00 in a research note issued to investors on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC‘s price objective points to a potential upside of 29.70% from the stock’s current price.

FA has been the subject of several other research reports. Zacks Research lowered First Advantage from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Barclays boosted their target price on shares of First Advantage from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Citigroup upped their target price on shares of First Advantage from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Jefferies Financial Group reiterated a “hold” rating and issued a $26.00 price target on shares of First Advantage in a research note on Friday. Finally, Royal Bank Of Canada increased their price target on shares of First Advantage from $21.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.00.

First Advantage Stock Up 2.9%

Shares of NYSE:FA opened at $23.13 on Friday. The firm has a market capitalization of $3.97 billion, a P/E ratio of 771.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.85 and a current ratio of 3.85. The stock has a 50 day moving average price of $20.24 and a 200-day moving average price of $16.50. First Advantage has a 52-week low of $8.82 and a 52-week high of $25.15.

First Advantage (NYSE:FA) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. First Advantage had a return on equity of 13.16% and a net margin of 0.65%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. As a group, equities research analysts anticipate that First Advantage will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On First Advantage

A number of hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc grew its position in First Advantage by 47.1% during the 2nd quarter. Versant Capital Management Inc now owns 2,445 shares of the company’s stock valued at $44,000 after purchasing an additional 783 shares during the last quarter. Sterling Capital Management LLC increased its stake in First Advantage by 323.6% during the 3rd quarter. Sterling Capital Management LLC now owns 2,694 shares of the company’s stock valued at $48,000 after purchasing an additional 2,058 shares in the last quarter. KBC Group NV bought a new stake in First Advantage during the 1st quarter valued at about $35,000. Fifth Third Bancorp purchased a new position in First Advantage in the first quarter worth about $45,000. Finally, State of Wyoming purchased a new position in First Advantage in the second quarter worth about $81,000. Institutional investors own 94.91% of the company’s stock.

About First Advantage

First Advantage Corporation (NYSE: FA) is a global human capital and background screening company that helps employers make informed hiring, onboarding and workforce-management decisions. Its technology and services are used by organizations across industries to assess candidates and support compliance throughout the employment lifecycle.

The company provides employment background checks, criminal-record searches, employment and education verification, identity services, drug and health screening, driving-record checks, international screening and continuous workforce monitoring.