Independence Contract Drilling Inc (ICD) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 5.50 from a previous price target of $4.75 . RBC Capital Mkts advised their investors in a research report released on Apr 15, 2016.
Many Wall Street Analysts have commented on Independence Contract Drilling Inc. Independence Contract Drilling Inc was Initiated by Nomura to “Buy” on Apr 8, 2016. Shares were Reiterated by FBR Capital on Feb 24, 2016 to “Outperform” and Lowered the Price Target to $ 8 from a previous price target of $9 .Shares were Reiterated by RBC Capital Mkts on Feb 19, 2016 to “Outperform” and Lowered the Price Target to $ 5 from a previous price target of $6 .
On the company’s financial health, Independence Contract Drilling Inc reported $-0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $-0.07. The company had revenue of $23.70 million for the quarter, compared to analysts expectations of $23.08 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Independence Contract Drilling Inc opened for trading at $4.47 and hit $4.75 on the upside on Monday, eventually ending the session at $4.5, with a gain of 1.81% or 0.08 points. The heightened volatility saw the trading volume jump to 37,018 shares. Company has a market cap of $110 M.
In a different news, on Oct 1, 2015, David C Brown (officer ) purchased 500 shares at $4.99 per share price. According to the SEC, on May 13, 2015, Joseph Scott Thompson (officer ) purchased 5,000 shares at $7.90 per share price.