ICF International (NASDAQ:ICFI) Stock Price Target Raised at Truist Financial

Key Points

• Truist Financial raised its price target on ICF International from $80 to $90 but maintained a Hold rating; the new target implies 12.95% upside from the prior close.
• Analysts overall rate the stock Moderate Buy, with a consensus price target of $105.00.
• ICF beat quarterly EPS estimates, reporting $1.98 versus $1.92 expected, while revenue of $470.5 million fell short of consensus; revenue increased 1.1% year over year.

ICF International (NASDAQ:ICFI - Get Free Report) had its target price raised by equities researchers at Truist Financial from $80.00 to $90.00 in a report released on Monday, Benzinga reports. The firm currently has a "hold" rating on the business services provider's stock. Truist Financial's target price would indicate a potential upside of 12.95% from the stock's previous close.

Several other equities analysts have also recently commented on the stock. Weiss Ratings upgraded shares of ICF International from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Wall Street Zen downgraded shares of ICF International from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Barrington Research set a $110.00 price target on shares of ICF International in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $105.00.

ICF International Stock Performance

ICFI opened at $79.68 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 1.40. ICF International has a 52-week low of $58.83 and a 52-week high of $100.63. The firm has a market cap of $1.43 billion, a P/E ratio of 15.01 and a beta of 0.45. The business's fifty day moving average is $88.29 and its 200-day moving average is $79.00.

ICF International (NASDAQ:ICFI - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The business services provider reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.06. ICF International had a return on equity of 11.81% and a net margin of 5.29%. The business had revenue of $470.50 million during the quarter, compared to the consensus estimate of $490.83 million. During the same quarter in the previous year, the firm earned $1.67 earnings per share. ICF International's revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts expect that ICF International will post 7.08 EPS for the current fiscal year.

Insider Buying and Selling at ICF International

In other ICF International news, CEO John Wasson sold 6,400 shares of ICF International stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $88.32, for a total value of $565,248.00. Following the transaction, the chief executive officer owned 6,339 shares in the company, valued at $559,860.48. The trade was a 50.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sergio J. Ostria sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $88.59, for a total value of $177,180.00. Following the transaction, the executive vice president directly owned 24,467 shares of the company's stock, valued at approximately $2,167,531.53. The trade was a 7.56% decrease in their position. The SEC filing for this sale provides additional information. 1.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ICF International

A number of hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new stake in ICF International in the third quarter valued at $25,000. Nisa Investment Advisors LLC raised its position in ICF International by 11.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the business services provider's stock worth $136,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC raised its position in ICF International by 41.3% during the 3rd quarter. GAMMA Investing LLC now owns 472 shares of the business services provider's stock worth $39,000 after purchasing an additional 138 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in ICF International by 73.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 336 shares of the business services provider's stock worth $28,000 after buying an additional 142 shares during the period. Finally, Empowered Funds LLC acquired a new position in ICF International during the 2nd quarter worth about $3,881,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

About ICF International

ICF International, Inc is a global consulting and technology services company that helps government agencies, businesses and nonprofit organizations address complex policy, management and operational challenges. The company combines research, advisory services, data analytics, technology implementation and strategic communications to support clients from program design through execution and evaluation.

ICF's work spans energy and climate, environment, transportation, public health, health care, community development, disaster recovery, workforce programs and public-sector modernization.

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