ICF International (NASDAQ:ICFI) Price Target Raised to $107.00

Key Points

• Barrington Research increased its price target for ICF International from $102.00 to $107.00, suggesting a potential upside of 12.82% from the previous close.
• ICF International recently reported earnings of $1.66 per share, exceeding expectations, but experienced a 7.2% decline in year-over-year revenue.
• Insider purchases included 1,250 shares by Director Scott B. Salmirs and 2,000 shares by Director Randall Mehl, signaling increased confidence in the company's performance.

ICF International (NASDAQ:ICFI - Get Free Report) had its price target upped by investment analysts at Barrington Research from $102.00 to $107.00 in a report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the business services provider's stock. Barrington Research's price target would suggest a potential upside of 12.82% from the company's previous close.

ICFI has been the topic of a number of other research reports. Wall Street Zen cut ICF International from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Canaccord Genuity Group dropped their price objective on ICF International from $100.00 to $90.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. Finally, Truist Financial dropped their price objective on ICF International from $97.00 to $85.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, ICF International presently has a consensus rating of "Moderate Buy" and an average target price of $128.20.

ICF International Price Performance

NASDAQ:ICFI opened at $94.84 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.75 billion, a P/E ratio of 16.49 and a beta of 0.49. ICF International has a 12 month low of $75.91 and a 12 month high of $179.67. The business's 50-day moving average is $86.07 and its 200 day moving average is $89.83.

ICF International (NASDAQ:ICFI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The business services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.03. ICF International had a return on equity of 14.50% and a net margin of 5.45%. The company had revenue of $476.16 million for the quarter, compared to analysts' expectations of $482.84 million. During the same period in the previous year, the firm posted $1.69 earnings per share. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities research analysts forecast that ICF International will post 7.44 earnings per share for the current fiscal year.

Insider Transactions at ICF International

In related news, Director Scott B. Salmirs purchased 1,250 shares of the business's stock in a transaction on Friday, June 6th. The shares were bought at an average cost of $83.98 per share, with a total value of $104,975.00. Following the transaction, the director owned 7,653 shares of the company's stock, valued at approximately $642,698.94. This trade represents a 19.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randall Mehl purchased 2,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were bought at an average cost of $84.40 per share, for a total transaction of $168,800.00. Following the completion of the transaction, the director directly owned 17,754 shares in the company, valued at $1,498,437.60. This trade represents a 12.70% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.48% of the company's stock.

Institutional Investors Weigh In On ICF International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in ICF International during the 4th quarter worth about $149,000. Cornerstone Investment Partners LLC acquired a new stake in shares of ICF International during the 2nd quarter valued at about $270,000. Ethic Inc. acquired a new stake in shares of ICF International during the 4th quarter valued at about $292,000. Police & Firemen s Retirement System of New Jersey grew its position in shares of ICF International by 7.7% during the 2nd 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 period. Finally, Entropy Technologies LP acquired a new stake in shares of ICF International during the 1st quarter valued at about $661,000. 94.12% of the stock is owned by institutional investors and hedge funds.

About ICF International

ICF International, Inc provides management, technology, and policy consulting and implementation services to government and commercial clients in the United States and internationally. The company researches critical policy, industry, 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, business, market, business, communication, and technology challenges.

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