What Happened?

Shares of professional consulting firm ICF International (NASDAQ: ICFI) jumped 4.4% in the morning session after an analyst at Canaccord Genuity upgraded the company's stock rating to 'Buy' from 'Hold' and raised the price target. The price target was increased significantly to $115 from $90. The analyst firm expressed optimism about ICF International's outlook, pointing to a "likely return to growth in 2026, healthy FCF generation, and strong management" as key reasons for the improved rating. The firm noted that the current situation offered a chance to "own a high-quality growth asset at a reasonable price" following what was described as a difficult year for the company in 2025.

After the initial pop the shares cooled down to $81.69, up 4.9% from previous close.

Is now the time to buy ICF International? Access our full analysis report here.

What Is The Market Telling Us

ICF International’s shares are not very volatile and have only had 6 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 4 months ago when the stock gained 9.1% on the news that it reported second-quarter results that showed stronger-than-expected profits, fueled by significant growth in its commercial energy business. Investors looked past a slight revenue miss, focusing instead on earnings per share of $1.66, which beat analyst forecasts. The company's commercial energy division delivered a remarkable 27% year-over-year revenue increase, offsetting challenges in the federal government sector. A strong book-to-bill ratio of 1.30 pointed to a healthy pipeline of future work. Management also reaffirmed its full-year guidance and signaled a return to growth in 2026, which further boosted investor sentiment.

ICF International is down 30.7% since the beginning of the year, and at $81.69 per share, it is trading 39.7% below its 52-week high of $135.38 from December 2024. Investors who bought $1,000 worth of ICF International’s shares 5 years ago would now be looking at an investment worth $1,129.

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