ICF International (NASDAQ:ICFI) Shares Gap Up on Insider Buying Activity

ICF International, Inc. (NASDAQ:ICFI - Get Free Report) gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $83.82, but opened at $87.22. ICF International shares last traded at $86.36, with a volume of 32,121 shares trading hands.

Specifically, Director Randall Mehl acquired 2,000 shares of ICF International stock in a transaction that occurred on Monday, June 9th. The shares were acquired at an average price of $84.40 per share, with a total value of $168,800.00. Following the purchase, the director now directly owns 17,754 shares of the company's stock, valued at $1,498,437.60. The trade was a 12.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott B. Salmirs acquired 1,250 shares of ICF International stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average cost of $83.98 per share, for a total transaction of $104,975.00. Following the purchase, the director now directly owns 7,653 shares in the company, valued at $642,698.94. The trade was a 19.52% increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ICFI. Wall Street Zen lowered shares of ICF International from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Truist Financial cut their price target on shares of ICF International from $97.00 to $85.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Canaccord Genuity Group cut their price target on shares of 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, Barrington Research reaffirmed an "outperform" rating and issued a $102.00 price target on shares of ICF International in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $127.20.

ICF International Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 1.21. The stock's 50 day simple moving average is $84.81 and its two-hundred day simple moving average is $101.18. The stock has a market cap of $1.60 billion, a P/E ratio of 15.30 and a beta of 0.51.

ICF International (NASDAQ:ICFI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.20. ICF International had a net margin of 5.38% and a return on equity of 14.68%. The firm had revenue of $487.62 million for the quarter, compared to analyst estimates of $487.28 million. During the same quarter in the previous year, the firm posted $1.77 earnings per share. The business's revenue was down 1.4% on a year-over-year basis. As a group, research analysts forecast that ICF International, Inc. will post 7.44 EPS for the current year.

ICF International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 6th will be issued a $0.14 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.64%. ICF International's dividend payout ratio (DPR) is presently 9.61%.

Institutional Trading of ICF International

Hedge funds and other institutional investors have recently made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of ICF International in the fourth quarter valued at approximately $149,000. Cibc World Markets Corp acquired a new stake in shares of ICF International in the fourth quarter valued at approximately $208,000. Ethic Inc. acquired a new stake in shares of ICF International in the fourth quarter valued at approximately $292,000. Millstone Evans Group LLC acquired a new stake in shares of ICF International in the fourth quarter valued at approximately $447,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of ICF International by 8.3% in the fourth quarter. Handelsbanken Fonder AB now owns 5,222 shares of the business services provider's stock valued at $623,000 after purchasing an additional 400 shares during the last quarter. 94.12% of the stock is currently 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.