Intrepid Potash (NYSE:IPI) Upgraded at StockNews.com

StockNews.com upgraded shares of Intrepid Potash (NYSE:IPI) from a sell rating to a hold rating in a report published on Wednesday.

Separately, UBS Group boosted their price target on Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research note on Tuesday.

Intrepid Potash Stock Performance

Shares of IPI opened at $26.89 on Wednesday. The stock has a market capitalization of $357.03 million, a P/E ratio of -8.03 and a beta of 2.18. The company’s fifty day moving average is $24.34 and its two-hundred day moving average is $24.00. Intrepid Potash has a 1 year low of $17.52 and a 1 year high of $29.75.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The firm had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. During the same period in the prior year, the firm posted ($0.53) earnings per share. Sell-side analysts predict that Intrepid Potash will post 0.27 EPS for the current year.

Institutional Trading of Intrepid Potash

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in Intrepid Potash by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 53,773 shares of the basic materials company’s stock valued at $1,291,000 after purchasing an additional 2,680 shares in the last quarter. Pinnacle Associates Ltd. purchased a new position in Intrepid Potash in the 3rd quarter valued at about $3,100,000. Glenorchy Capital Ltd boosted its position in Intrepid Potash by 95.7% in the 3rd quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock valued at $1,493,000 after buying an additional 30,425 shares during the last quarter. SG Americas Securities LLC purchased a new position in Intrepid Potash in the 3rd quarter valued at about $142,000. Finally, AQR Capital Management LLC boosted its position in Intrepid Potash by 5.2% in the 2nd quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock valued at $1,086,000 after buying an additional 2,306 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors and hedge funds.

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.