Zacks Investment Research upgraded shares of ICF International (NASDAQ:ICFI) from a hold rating to a buy rating in a research report released on Monday. The brokerage currently has $80.00 price objective on the business services provider’s stock.
According to Zacks, “ICF’s strong international government business is attributable to improvement in its business development pipeline and win rates. Within the commercial business, marketing service is benefiting from increased focus on digital commerce and social media as well as loyalty marketing. Also, ICF’s commercial energy markets group looks well poised to benefit from advisory work connected to transformations in the utility industry and increase in mandated energy efficiency programs across the United States. Despite these positives, considerable variations in revenues and profit are expected from time to time. This is because a large portion of ICF’s business comes from commercial work, which is highly concentrated in cyclical industries. The stock has outperformed the industry in a year’s time.”
ICFI has been the subject of several other research reports. Barrington Research set a $75.00 price objective on shares of ICF International and gave the company an outperform rating in a research note on Wednesday, May 9th. BidaskClub upgraded shares of ICF International from a buy rating to a strong-buy rating in a research report on Tuesday, April 24th. Loop Capital upped their price target on shares of ICF International to $74.00 and gave the company a buy rating in a research report on Friday, May 4th. ValuEngine cut shares of ICF International from a strong-buy rating to a buy rating in a research report on Saturday, June 2nd. Finally, Cowen started coverage on shares of ICF International in a research report on Wednesday, March 28th. They issued a market perform rating and a $65.00 price target for the company. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $72.83.
ICF International (NASDAQ:ICFI) last issued its quarterly earnings data on Wednesday, May 2nd. The business services provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The business had revenue of $302.80 million during the quarter, compared to the consensus estimate of $304.97 million. ICF International had a net margin of 5.27% and a return on equity of 9.91%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. research analysts forecast that ICF International will post 3.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 8th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.78%. The ex-dividend date is Thursday, June 7th. ICF International’s dividend payout ratio (DPR) is currently 18.54%.
In other news, insider James C. M. Morgan sold 2,957 shares of the stock in a transaction on Friday, April 20th. The shares were sold at an average price of $67.50, for a total transaction of $199,597.50. Following the completion of the sale, the insider now directly owns 30,310 shares in the company, valued at $2,045,925. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO John Wasson sold 12,982 shares of the stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $62.50, for a total transaction of $811,375.00. Following the sale, the chief operating officer now owns 71,605 shares of the company’s stock, valued at $4,475,312.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,541 shares of company stock valued at $2,697,824. Corporate insiders own 4.67% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ICFI. Thrivent Financial For Lutherans increased its position in shares of ICF International by 34.5% during the fourth quarter. Thrivent Financial For Lutherans now owns 333,429 shares of the business services provider’s stock worth $17,505,000 after buying an additional 85,518 shares during the period. Boston Partners increased its position in shares of ICF International by 15.5% during the first quarter. Boston Partners now owns 326,253 shares of the business services provider’s stock worth $19,069,000 after buying an additional 43,880 shares during the period. Systematic Financial Management LP increased its position in shares of ICF International by 24.9% during the fourth quarter. Systematic Financial Management LP now owns 199,118 shares of the business services provider’s stock worth $10,454,000 after buying an additional 39,686 shares during the period. Spark Investment Management LLC acquired a new stake in shares of ICF International during the first quarter worth $1,256,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of ICF International during the first quarter worth $971,000. Institutional investors own 90.54% of the company’s stock.
ICF International Company Profile
ICF International Inc provides management, marketing, technology, and policy consulting and implementation services to government and commercial clients in the United States and internationally. The company researches critical policy, industry, and stakeholder issues, trends, and behaviors; measures and evaluates results and their impact; and provides strategic planning and advisory services to its clients on how to navigate societal, market, business, communication, and technology challenges.
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