ICF International (NASDAQ:ICFI) Shares Gap Up - Here's What Happened

ICF International, Inc. (NASDAQ:ICFI - Get Free Report)'s share price gapped up prior to trading on Tuesday . 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Canaccord Genuity Group decreased their price objective on shares of ICF International from $100.00 to $90.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. Barrington Research reissued an "outperform" rating and set a $102.00 target price on shares of ICF International in a research note on Wednesday. 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 report on Monday, April 14th. Finally, Wall Street Zen downgraded shares of ICF International from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $127.20.

ICF International Stock Performance

The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 15.16 and a beta of 0.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.21. The firm's 50-day moving average price is $84.51 and its two-hundred day moving average price is $101.87.

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

ICF International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 6th will be given a $0.14 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.56 dividend on an annualized basis and a yield of 0.65%. ICF International's dividend payout ratio (DPR) is presently 9.61%.

Insider Transactions at ICF International

In related news, Director Scott B. Salmirs bought 1,250 shares of ICF International stock in a transaction dated Friday, June 6th. The shares were bought at an average cost of $83.98 per share, for a total transaction of $104,975.00. Following the completion of the transaction, the director now owns 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Randall Mehl purchased 2,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were acquired at an average cost of $84.40 per share, with a total value of $168,800.00. Following the completion of the purchase, the director now 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 disclosure for this purchase can be found here. 1.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On ICF International

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in shares of ICF International by 44.4% during the fourth quarter. SG Americas Securities LLC now owns 1,103 shares of the business services provider's stock worth $131,000 after buying an additional 339 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in ICF International in the fourth quarter valued at approximately $149,000. Cibc World Markets Corp bought a new stake in ICF International in the fourth quarter valued at approximately $208,000. Ethic Inc. bought a new stake in ICF International in the fourth quarter valued at approximately $292,000. Finally, Millstone Evans Group LLC bought a new stake in ICF International in the fourth quarter valued at approximately $447,000. 94.12% of the stock is owned by institutional investors.

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.