Intrepid Potash, Inc. (NYSE:IPI) has been given an average rating of “Hold” by the seven analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $3.56.
A number of equities research analysts have recently issued reports on IPI shares. Stephens started coverage on shares of Intrepid Potash in a research note on Monday, December 4th. They issued an “equal weight” rating and a $4.00 price objective for the company. Zacks Investment Research cut shares of Intrepid Potash from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Cowen raised shares of Intrepid Potash from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $3.56 to $3.75 in a research note on Monday, March 5th. Finally, ValuEngine cut shares of Intrepid Potash from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st.
In other news, major shareholder Clearway Capital Management Lt purchased 211,344 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of $3.30 per share, with a total value of $697,435.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Jornayvaz III purchased 15,900 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were purchased at an average cost of $3.30 per share, with a total value of $52,470.00. Following the transaction, the chief executive officer now directly owns 1,206,650 shares in the company, valued at $3,981,945. The disclosure for this purchase can be found here. Insiders have acquired a total of 337,244 shares of company stock valued at $1,136,405 in the last three months. 27.30% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning purchased a new stake in Intrepid Potash during the 4th quarter valued at $101,000. MetLife Investment Advisors LLC purchased a new stake in shares of Intrepid Potash in the 4th quarter worth about $106,000. Jane Street Group LLC purchased a new stake in shares of Intrepid Potash in the 4th quarter worth about $118,000. Wells Fargo & Company MN lifted its position in shares of Intrepid Potash by 12.3% in the 2nd quarter. Wells Fargo & Company MN now owns 57,809 shares of the basic materials company’s stock worth $131,000 after purchasing an additional 6,336 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in shares of Intrepid Potash in the 2nd quarter worth about $132,000. 46.88% of the stock is owned by institutional investors and hedge funds.
Shares of Intrepid Potash (NYSE:IPI) traded down $0.10 during trading on Wednesday, hitting $3.74. 1,181,527 shares of the stock were exchanged, compared to its average volume of 1,114,360. Intrepid Potash has a 12 month low of $1.36 and a 12 month high of $5.12. The stock has a market cap of $501.17, a PE ratio of -14.96 and a beta of 0.95. The company has a quick ratio of 0.77, a current ratio of 2.99 and a debt-to-equity ratio of 0.12.
Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data on Tuesday, February 27th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). Intrepid Potash had a negative net margin of 14.54% and a negative return on equity of 5.31%. The business had revenue of $33.30 million during the quarter, compared to analysts’ expectations of $30.68 million. During the same period last year, the company posted ($0.19) EPS. Intrepid Potash’s revenue for the quarter was down 21.1% on a year-over-year basis. analysts predict that Intrepid Potash will post 0.12 earnings per share for the current year.
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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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