Intrepid Potash, Inc (NYSE:IPI) has been given a consensus rating of “Hold” by the six research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $3.55.
Several equities analysts have recently weighed in on the stock. UBS cut shares of Intrepid Potash from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $2.00 to $2.50 in a research note on Monday, August 7th. Cowen reiterated a “sell” rating and issued a $3.50 price objective on shares of Intrepid Potash in a research note on Friday. Stephens assumed coverage on shares of Intrepid Potash in a research note on Monday. They issued a “hold” rating and a $4.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of Intrepid Potash from $3.00 to $4.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 31st. Finally, Zacks Investment Research upgraded shares of Intrepid Potash from a “sell” rating to a “buy” rating and set a $3.75 price objective on the stock in a research note on Wednesday, August 9th.
Shares of Intrepid Potash (IPI) traded down $0.14 during midday trading on Monday, hitting $3.60. 620,662 shares of the stock were exchanged, compared to its average volume of 1,592,706. The company has a current ratio of 4.71, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. Intrepid Potash has a 12-month low of $1.24 and a 12-month high of $4.63.
Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Monday, October 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $32.06 million for the quarter, compared to the consensus estimate of $33.15 million. Intrepid Potash had a negative net margin of 22.88% and a negative return on equity of 8.09%. The business’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) EPS. equities research analysts forecast that Intrepid Potash will post -0.18 earnings per share for the current fiscal year.
In other news, EVP James N. Whyte sold 86,796 shares of Intrepid Potash stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $3.84, for a total transaction of $333,296.64. Following the completion of the sale, the executive vice president now directly owns 360,903 shares in the company, valued at $1,385,867.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 27.30% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Old West Investment Management LLC lifted its position in shares of Intrepid Potash by 18.5% during the third quarter. Old West Investment Management LLC now owns 1,012,459 shares of the basic materials company’s stock worth $4,414,000 after purchasing an additional 158,256 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Intrepid Potash by 18.3% in the third quarter. Royce & Associates LP now owns 579,955 shares of the basic materials company’s stock valued at $2,529,000 after acquiring an additional 89,749 shares in the last quarter. KBC Group NV bought a new stake in shares of Intrepid Potash in the third quarter valued at about $374,000. Dimensional Fund Advisors LP raised its holdings in shares of Intrepid Potash by 82.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,181,060 shares of the basic materials company’s stock valued at $13,870,000 after acquiring an additional 1,435,178 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Intrepid Potash by 82.5% in the third quarter. Wells Fargo & Company MN now owns 105,505 shares of the basic materials company’s stock valued at $460,000 after acquiring an additional 47,696 shares in the last quarter. Institutional investors and hedge funds own 47.99% of the company’s stock.
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About Intrepid Potash
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.
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