Zacks Investment Research upgraded shares of Intrepid Potash (NYSE:IPI) from a sell rating to a hold rating in a research report sent to investors on Wednesday, March 7th.
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 “
Several other research analysts also recently commented on IPI. Stephens assumed 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 target on the stock. Cowen reaffirmed a sell rating and issued a $3.50 price objective on shares of Intrepid Potash in a research report on Friday, December 1st. Finally, ValuEngine lowered shares of Intrepid Potash from a sell rating to a strong sell rating in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. Intrepid Potash presently has an average rating of Hold and an average target price of $3.60.
Intrepid Potash (NYSE IPI) traded down $0.01 on Wednesday, hitting $3.82. 180,761 shares of the stock traded hands, compared to its average volume of 1,091,536. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 0.77. The stock has a market capitalization of $500.85, a PE ratio of -15.96 and a beta of 0.95. Intrepid Potash has a 1 year low of $1.24 and a 1 year high of $5.12.
Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Tuesday, February 27th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). The firm had revenue of $33.30 million during the quarter, compared to the consensus estimate of $30.68 million. Intrepid Potash had a negative return on equity of 5.31% and a negative net margin of 14.54%. The business’s revenue for the quarter was down 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.19) earnings per share. equities analysts predict that Intrepid Potash will post 0.12 earnings per share for the current year.
In related news, insider Robert P. Jornayvaz III acquired 10,000 shares of the stock in a transaction dated Tuesday, December 19th. The stock was acquired at an average cost of $3.85 per share, with a total value of $38,500.00. Following the completion of the transaction, the insider now owns 1,206,650 shares in the company, valued at approximately $4,645,602.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert P. Jornayvaz III purchased 15,900 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was acquired at an average cost of $3.30 per share, with a total value of $52,470.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,206,650 shares of the company’s stock, valued at $3,981,945. The disclosure for this purchase can be found here. In the last three months, insiders have bought 342,244 shares of company stock worth $1,155,155. Corporate insiders own 27.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. purchased a new position in Intrepid Potash in the second quarter worth $361,000. Royce & Associates LP boosted its stake in Intrepid Potash by 31.4% in the 4th quarter. Royce & Associates LP now owns 761,955 shares of the basic materials company’s stock worth $3,627,000 after buying an additional 182,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Intrepid Potash by 82.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,181,060 shares of the basic materials company’s stock worth $13,870,000 after buying an additional 1,435,178 shares during the last quarter. California State Teachers Retirement System acquired a new stake in Intrepid Potash in the 2nd quarter worth about $379,000. Finally, Old West Investment Management LLC boosted its stake in Intrepid Potash by 18.5% in the 3rd quarter. Old West Investment Management LLC now owns 1,012,459 shares of the basic materials company’s stock worth $4,414,000 after buying an additional 158,256 shares during the last quarter. Hedge funds and other institutional investors own 46.88% of the company’s stock.
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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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