ICF International (NASDAQ:ICFI) Shares Up 3.2% – Here’s What Happened

ICF International, Inc. (NASDAQ:ICFI) shares shot up 3.2% on Monday . The stock traded as high as $88.55 and last traded at $88.97. 96,791 shares traded hands during trading, a decline of 56% from the average session volume of 218,055 shares. The stock had previously closed at $86.18.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ICFI. Barrington Research decreased their price target on shares of ICF International from $107.00 to $102.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ICF International in a report on Monday, December 22nd. Finally, Canaccord Genuity Group assumed coverage on ICF International in a report on Tuesday, December 2nd. They set a “buy” rating and a $115.00 price target on the stock. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, ICF International currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.67.

ICF International Price Performance

The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 16.69 and a beta of 0.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.41 and a quick ratio of 1.41. The company’s 50 day moving average is $83.31 and its 200 day moving average is $88.44.

ICF International (NASDAQ:ICFI) last issued its quarterly earnings data on Thursday, October 30th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.08). ICF International had a return on equity of 13.40% and a net margin of 5.13%.The firm had revenue of $465.41 million for the quarter, compared to analyst estimates of $485.10 million. During the same period in the prior year, the firm posted $2.13 earnings per share. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. Research analysts forecast that ICF International, Inc. will post 7.44 earnings per share for the current fiscal year.

ICF International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.6%. ICF International’s dividend payout ratio (DPR) is presently 10.57%.

Insider Activity

In other ICF International news, Director Randall Mehl purchased 500 shares of the business’s stock in a transaction on Monday, November 17th. The stock was bought at an average cost of $77.00 per share, for a total transaction of $38,500.00. Following the acquisition, the director owned 20,474 shares of the company’s stock, valued at approximately $1,576,498. The trade was a 2.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James C. M. Morgan sold 2,400 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $95.19, for a total value of $228,456.00. Following the sale, the chief operating officer owned 39,704 shares in the company, valued at $3,779,423.76. This trade represents a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.39% of the company’s stock.

Institutional Trading of ICF International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in shares of ICF International by 2,121.1% in the second quarter. EverSource Wealth Advisors LLC now owns 422 shares of the business services provider’s stock worth $36,000 after acquiring an additional 403 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of ICF International during the 2nd quarter valued at $246,000. Anchor Investment Management LLC acquired a new stake in shares of ICF International during the 2nd quarter worth $249,000. Cornerstone Investment Partners LLC purchased a new position in shares of ICF International in the 2nd quarter worth $270,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in ICF International by 7.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,278 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

ICF International Company Profile

ICF International (NASDAQ: ICFI), commonly known as ICF, is a global consulting and digital services provider specializing in the intersection of strategy, technology, and policy. The firm delivers integrated services and solutions to government and commercial clients in areas such as energy and environment, health and social programs, transportation, infrastructure, technology, and marketing and communications. ICF’s offerings span strategic planning, data analytics, program evaluation, digital transformation, and implementation support.

Founded in 1969 and headquartered in Reston, Virginia, ICF has grown through both organic expansion and targeted acquisitions to broaden its capabilities and geographic reach.