ICF International, Inc. ICFI has performed well over the past three months and can sustain momentum in the near term. Consequently, if you have not taken advantage of the share price appreciation yet, you should add the stock to your portfolio.
What Makes ICFI Stock an Attractive Pick
An Outperformer: A glimpse at this management, technology and policy consulting and implementation service provider’s price trend reveals that the stock has had a decent run over the past year. ICFI’s shares have gained 3.9% against the industry’s marginal decline.
One Year Price Performance
Image Source: Zacks Investment Research
Solid Rank: ICF International carries a Zacks Rank #2 (Buy) at present and has a VGM Score of B. Our research shows that stocks with a VGM Score of A or B in combination with a Zacks Rank #1 (Strong Buy) or 2 offer the best investment opportunities. Thus, the company appears to be a compelling investment proposition now.
Northward Estimate Revisions: Two earnings estimates for 2024 have moved north in the past 60 days against no southward revision, reflecting analysts’ confidence in the company. The Zacks Consensus Estimate for 2024 earnings has increased 2.4% in the past 60 days.
Positive Earnings Surprise History: ICFI has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average earnings surprise of 13.6%.
Strong Growth Prospects: The Zacks Consensus Estimate for ICF International’s 2024 revenues is pegged at $2 billion, indicating 2.8% year-over-year growth. The consensus estimate for earnings is pegged at $7.2 per share, indicating an 11.2% year-over-year rise.
Growth Factors: ICF International is a market leader in developing and implementing the new generation of residential energy efficiency programs. This has enabled the company to enjoy a rising share in the commercial and industrial energy-efficient markets.
ICFI’s strong performance has been primarily led by robust growth in its higher-margin revenues from commercial energy clients. Rising numbers of new clients and the growing scope of work performed by ICFI for its clients drove the top line.
The ongoing work for renewable developers across solar, storage and wind where the company has witnessed recent wins to provide a full range of its licensing, permitting, compliance and habitat conservation services led to commercial energy market revenues growth.
The company won several new contracts in the public health and social programs sphere in the third quarter of 2024 and has observed continuous growth opportunities regarding capacity building, training and technical assistance for federal grantees. Furthermore, opportunities that couple the company’s technology and domain, expertise especially when the scope of work includes data or AI, act as a major tailwind for its growth.
Other Stocks to Consider
Other top-ranked stocks from the broader Zacks Business Services sector are Braze BRZE, Climb Global Solutions, Inc. CLMB and Charles River Associates CRAI.
Climb Global Solutions flaunts a Zacks Rank of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CLMB has a long-term earnings growth expectation of 16%. It delivered a trailing four-quarter earnings surprise of 51.1%, on average.
Braze carries a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 30%.
BRZE delivered a trailing four-quarter earnings surprise of 132.9%, on average.
Charles River Associate carries a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 16%.
CRAI delivered a trailing four-quarter earnings surprise of 31%, on average.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpCharles River Associates (CRAI) : Free Stock Analysis Report
ICF International, Inc. (ICFI) : Free Stock Analysis Report
Braze, Inc. (BRZE) : Free Stock Analysis Report
Climb Global Solutions, Inc. (CLMB) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
