Is ICF International, Inc. overvalued or undervalued?

As of 11 March 2024, ICF International, Inc. has moved from an attractive to a fair valuation grade. The company is currently fairly valued based on its financial metrics. The P/E ratio stands at 17, while the EV to EBITDA ratio is 10.93, and the PEG ratio is 1.44. These ratios suggest that the company's valuation is in line with its earnings growth expectations.
In comparison to its peers, ICF International, Inc. has a P/E ratio of 16.67, which is significantly lower than Grand Canyon Education, Inc. at 31.27, indicating that ICF is more attractively priced relative to its earnings. However, it is also higher than The Brink's Co., which has a P/E of 17.57, suggesting that while ICF is fairly valued, it is not the cheapest option in the market. Additionally, ICF's recent stock performance has lagged behind the S&P 500, with a year-to-date decline of 29.70% compared to a 2.44% increase in the index, reinforcing the notion that the stock may be facing headwinds despite its current valuation.