Intrepid Potash (IPI) Receives “Sell” Rating from Cowen

Cowen restated their sell rating on shares of Intrepid Potash (NYSE:IPI) in a report released on Friday. They currently have a $3.50 price objective on the basic materials company’s stock.

Several other research firms have also recently commented on IPI. UBS cut Intrepid Potash from a neutral rating to a sell rating and upped their price target for the company from $2.00 to $2.50 in a report on Monday, August 7th. Zacks Investment Research raised Intrepid Potash from a sell rating to a buy rating and set a $3.75 price target for the company in a report on Wednesday, August 9th. Finally, BMO Capital Markets upped their price target on Intrepid Potash from $2.00 to $3.00 and gave the company a market perform rating in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $3.55.

Intrepid Potash (IPI) opened at $3.60 on Friday. Intrepid Potash has a 12-month low of $1.24 and a 12-month high of $4.63. 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 (NYSE:IPI) last posted its quarterly earnings data on Monday, October 30th. The basic materials company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Intrepid Potash had a negative return on equity of 8.09% and a negative net margin of 22.88%. The business had revenue of $32.06 million during the quarter, compared to analysts’ expectations of $33.15 million. During the same quarter in the previous year, the firm earned ($0.22) EPS. The firm’s revenue was down 26.5% compared to the same quarter last year. research analysts predict that Intrepid Potash will post -0.18 earnings per share for the current fiscal year.

In other Intrepid Potash news, EVP James N. Whyte sold 86,796 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $3.84, for a total value of $333,296.64. Following the completion of the transaction, the executive vice president now owns 360,903 shares of the company’s stock, valued at approximately $1,385,867.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 27.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. LMR Partners LLP bought a new stake in shares of Intrepid Potash in the 3rd quarter valued at approximately $155,000. Saratoga Research & Investment Management bought a new stake in shares of Intrepid Potash in the 3rd quarter valued at approximately $157,000. Thompson Davis & CO. Inc. bought a new stake in shares of Intrepid Potash in the 3rd quarter valued at approximately $184,000. State Board of Administration of Florida Retirement System grew its stake in shares of Intrepid Potash by 226.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 42,683 shares of the basic materials company’s stock valued at $186,000 after purchasing an additional 29,610 shares during the period. Finally, Radnor Capital Management LLC grew its stake in shares of Intrepid Potash by 87.1% in the 2nd quarter. Radnor Capital Management LLC now owns 46,400 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 21,600 shares during the period. Institutional investors 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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