Independence Contract Drilling Inc (NYSE:ICD) has earned a consensus recommendation of “Buy” from the nine analysts that are currently covering the stock. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.33.
Several analysts have commented on ICD shares. FBR & Co lifted their price objective on shares of Independence Contract Drilling from $6.25 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 28th. Capital One Financial Corp. raised shares of Independence Contract Drilling from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, February 28th. Zacks Investment Research lowered shares of Independence Contract Drilling from a “buy” rating to a “hold” rating in a research report on Wednesday, January 4th. Finally, Tudor Pickering raised shares of Independence Contract Drilling from a “hold” rating to a “buy” rating in a research report on Tuesday, November 29th.
Shares of Independence Contract Drilling (NYSE:ICD) traded down 2.59% during trading on Monday, reaching $5.26. 44,163 shares of the company traded hands. Independence Contract Drilling has a 12-month low of $3.70 and a 12-month high of $7.30. The firm’s 50-day moving average is $5.86 and its 200-day moving average is $5.69. The stock’s market capitalization is $197.09 million.
Independence Contract Drilling (NYSE:ICD) last announced its quarterly earnings data on Tuesday, February 28th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. The business had revenue of $18 million for the quarter, compared to analyst estimates of $17.39 million. Independence Contract Drilling had a negative net margin of 22.48% and a negative return on equity of 4.00%. The company’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, equities analysts predict that Independence Contract Drilling will post ($0.37) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of ICD. Trexquant Investment LP acquired a new stake in Independence Contract Drilling during the fourth quarter valued at about $134,000. Dynamic Technology Lab Private Ltd acquired a new stake in Independence Contract Drilling during the fourth quarter valued at about $189,000. Oxford Asset Management acquired a new stake in Independence Contract Drilling during the fourth quarter valued at about $213,000. Citadel Advisors LLC raised its stake in Independence Contract Drilling by 72.7% in the third quarter. Citadel Advisors LLC now owns 55,851 shares of the company’s stock valued at $293,000 after buying an additional 23,505 shares during the period. Finally, GLG Partners LP acquired a new stake in Independence Contract Drilling during the fourth quarter valued at about $344,000. 77.73% of the stock is currently owned by institutional investors.
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About Independence Contract Drilling
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