Shares of Intrepid Potash, Inc. (NYSE:IPI) have earned an average rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $3.50.
Several research firms have issued reports on IPI. Zacks Investment Research cut Intrepid Potash from a “buy” rating to a “hold” rating in a research report on Tuesday, February 6th. Stephens initiated coverage on Intrepid Potash in a research note on Monday, December 4th. They set an “equal weight” rating and a $4.00 price target on the stock. BMO Capital Markets boosted their price target on 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, Cowen reissued a “sell” rating and set a $3.50 price target on shares of Intrepid Potash in a research note on Friday, December 1st.
In other news, major shareholder Clearway Capital Management Lt purchased 211,344 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were acquired at an average price of $3.30 per share, with a total value of $697,435.20. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert P. Jornayvaz III purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were purchased at an average cost of $3.85 per share, for a total transaction of $38,500.00. Following the purchase, the insider now directly owns 1,206,650 shares in the company, valued at $4,645,602.50. The disclosure for this purchase can be found here. Insiders have bought a total of 231,444 shares of company stock worth $772,688 in the last three months. Corporate insiders own 27.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Intrepid Potash by 30.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,255,979 shares of the basic materials company’s stock valued at $9,619,000 after buying an additional 994,554 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Intrepid Potash by 82.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,181,060 shares of the basic materials company’s stock valued at $13,870,000 after buying an additional 1,435,178 shares in the last quarter. State Street Corp lifted its stake in Intrepid Potash by 3,191.0% in the 2nd quarter. State Street Corp now owns 1,144,560 shares of the basic materials company’s stock valued at $2,590,000 after buying an additional 1,109,782 shares in the last quarter. Northern Trust Corp lifted its stake in Intrepid Potash by 540.0% in the 2nd quarter. Northern Trust Corp now owns 1,091,221 shares of the basic materials company’s stock valued at $2,466,000 after buying an additional 920,720 shares in the last quarter. Finally, Old West Investment Management LLC lifted its stake in Intrepid Potash by 18.5% in the 3rd quarter. Old West Investment Management LLC now owns 1,012,459 shares of the basic materials company’s stock valued at $4,414,000 after buying an additional 158,256 shares in the last quarter. 48.11% of the stock is currently owned by hedge funds and other institutional investors.
Intrepid Potash (NYSE IPI) traded up $0.25 during midday trading on Friday, reaching $3.84. The company’s stock had a trading volume of 481,278 shares, compared to its average volume of 1,016,790. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.71 and a quick ratio of 1.17. Intrepid Potash has a 52 week low of $1.24 and a 52 week high of $5.12. The firm has a market cap of $469.47, a PE ratio of -8.09 and a beta of 0.85.
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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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