Intrepid Potash (IPI) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Intrepid Potash (NYSE:IPI) from a strong sell rating to a hold rating in a research report released on Friday.

According to Zacks, “INTREPID POTASH, Inc. is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and langbeinite, another mineral containing potassium. Intrepid owns five active potash production facilities — three in New Mexico and two in Utah “

IPI has been the subject of a number of other research reports. Stephens set a $7.00 target price on Intrepid Potash and gave the company a buy rating in a report on Tuesday, October 30th. TheStreet raised Intrepid Potash from a d+ rating to a c- rating in a report on Monday, November 12th. Finally, BMO Capital Markets raised their target price on Intrepid Potash from $3.25 to $4.00 and gave the company a market perform rating in a report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $4.81.



NYSE:IPI traded down $0.04 during midday trading on Friday, reaching $3.16. The stock had a trading volume of 450,854 shares, compared to its average volume of 588,382. Intrepid Potash has a 12-month low of $2.51 and a 12-month high of $5.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.23 and a quick ratio of 1.47. The firm has a market cap of $410.36 million, a price-to-earnings ratio of -17.56 and a beta of 0.92.

Intrepid Potash (NYSE:IPI) last released its earnings results on Tuesday, October 30th. The basic materials company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. Intrepid Potash had a return on equity of 0.03% and a net margin of 1.59%. The company had revenue of $36.53 million during the quarter, compared to the consensus estimate of $35.85 million. During the same quarter last year, the company earned ($0.02) earnings per share. Intrepid Potash’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts expect that Intrepid Potash will post 0.06 earnings per share for the current fiscal year.

In other Intrepid Potash news, major shareholder Clearway Capital Management Lt bought 203,470 shares of Intrepid Potash stock in a transaction on Thursday, January 10th. The stock was bought at an average price of $3.18 per share, with a total value of $647,034.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James N. Whyte sold 88,088 shares of Intrepid Potash stock in a transaction on Friday, November 9th. The stock was sold at an average price of $4.27, for a total value of $376,135.76. Following the transaction, the executive vice president now directly owns 298,838 shares of the company’s stock, valued at approximately $1,276,038.26. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,176,404 shares of company stock valued at $4,098,109. 27.70% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new position in shares of Intrepid Potash during the 2nd quarter worth $108,000. PEAK6 Investments LLC acquired a new position in Intrepid Potash in the 3rd quarter valued at about $107,000. BlueMountain Capital Management LLC acquired a new position in Intrepid Potash in the 2nd quarter valued at about $125,000. Metropolitan Life Insurance Co. NY raised its stake in Intrepid Potash by 152.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 33,008 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 19,919 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Intrepid Potash by 96.9% in the 2nd quarter. Bank of America Corp DE now owns 41,056 shares of the basic materials company’s stock valued at $167,000 after purchasing an additional 20,204 shares during the last quarter. 43.50% of the stock is owned by institutional investors and hedge funds.

Intrepid Potash Company Profile

Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.

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