Zacks Investment Research Downgrades ICF International (NASDAQ:ICFI) to Hold

Zacks Investment Research lowered shares of ICF International (NASDAQ:ICFI) from a buy rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports. The brokerage currently has $88.00 price target on the business services provider’s stock.

According to Zacks, “ICF's earnings and revenues beat the Zacks Consensus Estimate in the second-quarter of 2019. The company's international government business remains strong, courtesy of improvement in business development pipeline and win rate. ICF is banking on opportunities emerging from the bipartisan budget agreement. Global presence and diversity of markets ensures diversified and consistent revenue growth. Acquisitions are helping ICF to expand offerings and provide scale in particular geographies. On the flip side, the company is seeing escalation in costs because it is making significant investments in capture and proposal activities, infrastructure and intellectual property development, loyalty program and acquisitions. Also, ICF remains embroiled with various legal matters and proceedings. Year to date, shares have underperformed the industry.”

Several other equities analysts also recently issued reports on the stock. BidaskClub raised shares of ICF International from a hold rating to a buy rating in a research note on Friday, July 19th. SunTrust Banks upped their price objective on shares of ICF International to $110.00 and gave the company a buy rating in a research note on Friday, August 2nd. Barrington Research reissued a buy rating and set a $89.00 price objective on shares of ICF International in a research note on Wednesday, August 7th. Finally, ValuEngine downgraded shares of ICF International from a buy rating to a hold rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. ICF International presently has an average rating of Buy and a consensus price target of $89.20.

Shares of ICFI opened at $82.53 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.99 and a beta of 0.64. The company’s 50 day simple moving average is $82.02 and its 200 day simple moving average is $76.45. ICF International has a 1 year low of $60.22 and a 1 year high of $86.38.

ICF International (NASDAQ:ICFI) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $366.70 million for the quarter, compared to the consensus estimate of $356.58 million. ICF International had a net margin of 4.60% and a return on equity of 11.73%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Equities analysts expect that ICF International will post 4.21 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, September 12th. ICF International’s payout ratio is 15.01%.

In related news, CEO Sudhakar Kesavan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $82.00, for a total transaction of $1,230,000.00. Following the completion of the transaction, the chief executive officer now owns 213,498 shares of the company’s stock, valued at $17,506,836. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Wasson sold 14,468 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $80.76, for a total transaction of $1,168,435.68. Following the transaction, the chief operating officer now directly owns 82,248 shares of the company’s stock, valued at approximately $6,642,348.48. The disclosure for this sale can be found here. Insiders have sold 45,840 shares of company stock worth $3,772,919 in the last three months. Insiders own 4.67% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. increased its position in ICF International by 343.0% during the first quarter. Meeder Asset Management Inc. now owns 1,803 shares of the business services provider’s stock worth $138,000 after purchasing an additional 1,396 shares during the last quarter. Marshall Wace North America L.P. increased its position in ICF International by 308.9% during the first quarter. Marshall Wace North America L.P. now owns 2,114 shares of the business services provider’s stock worth $161,000 after purchasing an additional 1,597 shares during the last quarter. Paloma Partners Management Co acquired a new position in ICF International during the second quarter worth approximately $246,000. BNP Paribas Arbitrage SA increased its position in ICF International by 166.3% during the first quarter. BNP Paribas Arbitrage SA now owns 4,066 shares of the business services provider’s stock worth $309,000 after purchasing an additional 2,539 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in ICF International by 104.3% during the first quarter. SG Americas Securities LLC now owns 7,971 shares of the business services provider’s stock worth $606,000 after purchasing an additional 4,070 shares during the last quarter. 93.47% of the stock is owned by hedge funds and other institutional investors.

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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