Intrepid Potash, Inc (NYSE:IPI) had its price objective lifted by BMO Capital Markets from $3.00 to $4.00 in a research note released on Tuesday, October 31st. The brokerage currently has a market perform rating on the basic materials company’s stock.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Intrepid Potash from a sell rating to a hold rating in a research report on Tuesday, July 18th. BidaskClub raised Intrepid Potash from a hold rating to a buy rating in a research report on Wednesday, July 12th. Finally, UBS AG downgraded Intrepid Potash from a neutral rating to a sell rating and upped their target price for the company from $2.00 to $2.50 in a research report on Monday, August 7th.
Shares of Intrepid Potash (IPI) traded down $0.08 during mid-day trading on Tuesday, hitting $3.53. The stock had a trading volume of 1,066,933 shares, compared to its average volume of 1,106,697. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 4.71. Intrepid Potash has a 1-year low of $1.22 and a 1-year high of $4.63.
Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Monday, October 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $32.06 million for the quarter, compared to the consensus estimate of $33.15 million. Intrepid Potash had a negative return on equity of 8.09% and a negative net margin of 22.88%. The business’s quarterly revenue was down 26.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.22) earnings per share. analysts predict that Intrepid Potash will post -0.18 earnings per share for the current year.
In other Intrepid Potash news, EVP James N. Whyte sold 86,796 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $3.84, for a total transaction of $333,296.64. Following the sale, the executive vice president now directly owns 360,903 shares of the company’s stock, valued at approximately $1,385,867.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 27.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in IPI. Radnor Capital Management LLC grew its position in Intrepid Potash by 87.1% during the 2nd quarter. Radnor Capital Management LLC now owns 46,400 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 21,600 shares during the period. Wells Fargo & Company MN grew its position in Intrepid Potash by 12.3% during 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. New York State Common Retirement Fund acquired a new stake in Intrepid Potash during the 2nd quarter worth about $132,000. LMR Partners LLP acquired a new stake in Intrepid Potash during the 3rd quarter worth about $155,000. Finally, Saratoga Research & Investment Management acquired a new stake in Intrepid Potash during the 3rd quarter worth about $157,000. 46.56% of the stock is currently owned by institutional investors.
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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