Barrington Research Reaffirms Outperform Rating for ICF International (ICFI)

ICF International (NASDAQ:ICFI)‘s stock had its “outperform” rating restated by analysts at Barrington Research in a report released on Thursday, AnalystRatings.com reports. They presently have a $88.00 target price on the business services provider’s stock, up from their previous target price of $86.00. Barrington Research’s price objective would indicate a potential upside of 18.10% from the stock’s current price.

The analysts wrote, “We are raising our 12-month price target to $88 (from $86), which conservatively assumes an EV/NTM EBITDA multiple of 12x. The average EV/NTM EBITDA multiple for the government consulting peer group is 12.5x and 14.4x for the specialty consulting peer group. We reiterate our OUTPERFORM rating. Opinion OUTPERFORM (12 mo) $88 17% LT EPS Cap (mil) $1,451 Enterprise Value (mil) $1,678 Shares Outstanding (mil) 19.3 Volume 99,323 Financial / Valuation Adjusted ROE (LTM) 10.0% LT Debt/Capital 26.0% EV/Adj.””

A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded ICF International from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, April 30th. BidaskClub cut ICF International from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. ValuEngine upgraded ICF International from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Cowen restated a “buy” rating and set a $82.00 price objective on shares of ICF International in a research note on Wednesday, February 27th. Finally, Berenberg Bank assumed coverage on ICF International in a research note on Wednesday, February 13th. They set a “hold” rating and a $77.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $84.80.

Shares of ICF International stock opened at $74.51 on Thursday. ICF International has a twelve month low of $60.22 and a twelve month high of $82.25. The firm has a market capitalization of $1.42 billion, a P/E ratio of 19.98, a PEG ratio of 1.85 and a beta of 0.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.41 and a current ratio of 1.41.

ICF International (NASDAQ:ICFI) last issued its quarterly earnings data on Thursday, May 2nd. The business services provider reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.09. The company had revenue of $341.25 million for the quarter, compared to analysts’ expectations of $328.54 million. ICF International had a return on equity of 11.43% and a net margin of 4.67%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. As a group, equities research analysts predict that ICF International will post 4.16 EPS for the current year.

In other news, EVP Sergio J. Ostria sold 9,063 shares of ICF International stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $75.02, for a total transaction of $679,906.26. Following the sale, the executive vice president now directly owns 15,858 shares of the company’s stock, valued at $1,189,667.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.67% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ICFI. Norges Bank purchased a new stake in shares of ICF International during the fourth quarter worth about $5,719,000. Teachers Advisors LLC increased its position in shares of ICF International by 238.2% during the third quarter. Teachers Advisors LLC now owns 116,274 shares of the business services provider’s stock worth $8,773,000 after acquiring an additional 81,892 shares during the last quarter. Peregrine Capital Management LLC increased its position in shares of ICF International by 45.2% during the fourth quarter. Peregrine Capital Management LLC now owns 229,018 shares of the business services provider’s stock worth $14,836,000 after acquiring an additional 71,301 shares during the last quarter. Falcon Point Capital LLC increased its position in shares of ICF International by 150.8% during the first quarter. Falcon Point Capital LLC now owns 49,689 shares of the business services provider’s stock worth $3,780,000 after acquiring an additional 29,877 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of ICF International by 25.5% during the first quarter. Parametric Portfolio Associates LLC now owns 79,731 shares of the business services provider’s stock worth $6,066,000 after acquiring an additional 16,191 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

About ICF International

ICF International Inc provides management, marketing, 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, market, business, communication, and technology challenges.

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