ICF International (ICFI) Receives Outperform Rating from Barrington Research
Barrington Research restated their outperform rating on shares of ICF International (NASDAQ:ICFI) in a research note published on Thursday morning, MarketBeat.com reports. They currently have a $67.00 price target on the business services provider’s stock, up from their previous price target of $65.00.
“We are projecting a modest improvement in revenue growth during 2019, but have not assumed significant revenue from these budget priority areas in our forecast (although we believe ICF can win its fair share of this work). We are increasing our 12-month price target to $67 (from $65), which conservatively assumes an EV/NTM EBITDA multiple of 11x, relative to the average multiples of 12.5x for the government consulting peer group and 11.8x for the specialty consulting peer group. ICF’s current EV/NTM EBITDA multiple is 10.4x based on our estimates. We reiterate our OUTPERFORM rating.”,” the firm’s analyst commented.
A number of other equities research analysts also recently weighed in on ICFI. Zacks Investment Research upgraded ICF International from a hold rating to a buy rating and set a $60.00 target price for the company in a research report on Wednesday, January 10th. ValuEngine upgraded ICF International from a hold rating to a buy rating in a research report on Tuesday, November 14th. BidaskClub downgraded ICF International from a buy rating to a hold rating in a research report on Thursday, December 7th. Finally, Noble Financial restated a hold rating on shares of ICF International in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. ICF International currently has a consensus rating of Hold and an average target price of $63.25.
ICF International (NASDAQ:ICFI) last posted its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The company had revenue of $321.17 million for the quarter, compared to analyst estimates of $307.52 million. ICF International had a return on equity of 9.95% and a net margin of 5.12%. equities analysts forecast that ICF International will post 3.71 EPS for the current year.
The business also recently disclosed a special dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, March 28th.
In related news, CEO Sudhakar Kesavan sold 30,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $58.00, for a total value of $1,740,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.48% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. Systematic Financial Management LP boosted its position in shares of ICF International by 392.2% during the third quarter. Systematic Financial Management LP now owns 159,432 shares of the business services provider’s stock worth $8,601,000 after buying an additional 127,037 shares during the period. State Street Corp boosted its position in shares of ICF International by 5.3% during the second quarter. State Street Corp now owns 359,155 shares of the business services provider’s stock worth $16,916,000 after buying an additional 18,151 shares during the period. First Quadrant L P CA boosted its position in shares of ICF International by 23.2% during the third quarter. First Quadrant L P CA now owns 13,201 shares of the business services provider’s stock worth $712,000 after buying an additional 2,483 shares during the period. Nationwide Fund Advisors boosted its position in shares of ICF International by 41.8% during the third quarter. Nationwide Fund Advisors now owns 36,703 shares of the business services provider’s stock worth $1,980,000 after buying an additional 10,825 shares during the period. Finally, GW&K Investment Management LLC boosted its position in shares of ICF International by 96.1% during the fourth quarter. GW&K Investment Management LLC now owns 309,476 shares of the business services provider’s stock worth $16,247,000 after buying an additional 151,661 shares during the period. Institutional investors own 91.03% of the company’s stock.
About ICF International
ICF International, Inc provides professional services and technology-based solutions to government and commercial clients, including management, technology, and policy consulting and implementation services. The Company’s services address four markets: energy, environment and infrastructure; health, education and social programs; safety and security, and consumer and financial.
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