RESTON, Va.—Scott B. Salmirs, a director at ICF International , Inc. (NASDAQ:ICFI), recently purchased 400 shares of the company's common stock. This transaction, valued at approximately $55,352, took place on November 18, 2024, at an average price of $138.38 per share.
The acquisition was conducted as an open market purchase, adhering to ICF International's trading policies. Following this transaction, Salmirs holds a total of 5,803 shares directly.
In other recent news, ICF International Inc. experienced solid growth in the third quarter, as highlighted in their recent earnings call. The global consulting and digital services provider reported a 6% year-on-year increase in revenue from continuing operations, which rose to 10% after accounting for pass-throughs. The company's earnings per share (EPS) forecast for 2024 has also been increased, reflecting a robust financial outlook.
ICF's CEO, John Wasson, reported strong revenue growth of 15.3% in sectors such as energy, environment, infrastructure, and disaster recovery. The company's new business pipeline is valued at a record $10.6 billion, with significant contract wins in public health and infrastructure. ICF expects gross revenues between $2 billion and $2.03 billion for the full year 2024, indicating continued growth.
The company is actively pursuing merger and acquisition opportunities, focusing on capabilities, culture, and customer contracts. With a strategic focus on expanding federal IT modernization contracts and a bullish outlook in the commercial energy sector, ICF is positioning itself for significant growth potential. These are the latest developments in the company's trajectory.
InvestingPro Insights
Scott B. Salmirs' recent purchase of ICF International shares comes at an interesting time for the company. According to InvestingPro data, ICF's stock has experienced a significant decline, with a 19.72% drop in the past week and a 21.92% decrease over the last month. This recent downturn has brought the stock near its 52-week low, trading at 75.29% of its 52-week high.
Despite the recent stock performance, ICF International's fundamentals appear solid. The company boasts a revenue of $2.00 billion for the last twelve months as of Q3 2024, with a 2.11% growth rate. Moreover, ICF's EBITDA growth stands at an impressive 21.09% for the same period, indicating improved operational efficiency.
An InvestingPro Tip suggests that ICF is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.42. This could indicate that the stock is potentially undervalued, which might explain Salmirs' decision to increase his stake in the company.
Another InvestingPro Tip notes that ICF has been profitable over the last twelve months, with a gross profit of $733.36 million and an operating income margin of 8.69%. This profitability, combined with the company's moderate debt levels, may provide some reassurance to investors during this period of stock price volatility.
For readers interested in a more comprehensive analysis, InvestingPro offers 7 additional tips for ICF International, providing a deeper insight into the company's financial health and market position.
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