Intrepid Potash (NYSE:IPI) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Intrepid Potash (NYSE:IPI) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Separately, UBS Group dropped their price objective on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a report on Tuesday, March 4th.

Intrepid Potash Price Performance

Shares of IPI stock opened at $29.39 on Thursday. The business has a 50-day moving average of $26.76 and a 200 day moving average of $25.53. The stock has a market capitalization of $388.67 million, a PE ratio of -8.77 and a beta of 2.18. Intrepid Potash has a 1-year low of $18.83 and a 1-year high of $31.29.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The firm had revenue of $55.80 million for the quarter, compared to the consensus estimate of $50.35 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same quarter in the prior year, the company posted ($0.41) earnings per share. Analysts anticipate that Intrepid Potash will post -0.17 EPS for the current year.

Insider Transactions at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 57,441 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $25.84, for a total value of $1,484,275.44. Following the completion of the sale, the insider now owns 1,227,559 shares of the company’s stock, valued at approximately $31,720,124.56. The trade was a 4.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 227,805 shares of company stock worth $6,168,096 over the last 90 days. 18.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Intrepid Potash in the fourth quarter valued at about $1,007,000. Two Sigma Investments LP boosted its holdings in shares of Intrepid Potash by 16.7% during the 4th quarter. Two Sigma Investments LP now owns 75,974 shares of the basic materials company’s stock worth $1,665,000 after purchasing an additional 10,894 shares during the last quarter. State of Wyoming purchased a new stake in Intrepid Potash in the 4th quarter valued at $46,000. Lazard Asset Management LLC acquired a new stake in shares of Intrepid Potash in the 4th quarter worth $153,000. Finally, Glenorchy Capital Ltd raised its holdings in shares of Intrepid Potash by 1.1% during the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock worth $1,379,000 after acquiring an additional 714 shares during the period. 56.13% of the stock is owned by hedge funds and other institutional investors.

Intrepid Potash Company Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.