Intrepid Potash, Inc (IPI) PT Raised to $4.00
Intrepid Potash, Inc (NYSE:IPI) had its price target upped by investment analysts at BMO Capital Markets from $3.00 to $4.00 in a research note issued to investors on Tuesday. The brokerage presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 7.82% from the company’s current price.
Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Intrepid Potash from a “sell” rating to a “buy” rating and set a $3.75 price objective on the stock in a report on Wednesday, August 9th. UBS AG cut Intrepid Potash from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $2.00 to $2.50 in a report on Monday, August 7th. Finally, BidaskClub upgraded Intrepid Potash from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd.
Shares of Intrepid Potash (NYSE IPI) traded up 0.81% during trading on Tuesday, reaching $3.74. The company had a trading volume of 193,529 shares. Intrepid Potash has a 52 week low of $1.00 and a 52 week high of $4.63. The company’s market capitalization is $458.61 million. The stock’s 50-day moving average price is $3.99 and its 200-day moving average price is $2.98.
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In related news, insider Robert P. Jornayvaz III bought 20,000 shares of the stock in a transaction dated Monday, August 7th. The shares were acquired at an average cost of $3.31 per share, for a total transaction of $66,200.00. Following the acquisition, the insider now directly owns 1,206,650 shares in the company, valued at approximately $3,994,011.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Clearway Capital Management Lt bought 17,100 shares of the stock in a transaction dated Friday, August 18th. The shares were bought at an average price of $3.20 per share, for a total transaction of $54,720.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 981,300 shares of company stock worth $3,301,725. Insiders own 27.30% of the company’s stock.
Several institutional investors have recently modified their holdings of IPI. Radnor Capital Management LLC boosted its holdings in shares of 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 last quarter. Wells Fargo & Company MN boosted its holdings in shares of 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 last quarter. New York State Common Retirement Fund acquired a new position in shares of Intrepid Potash during the 2nd quarter worth approximately $132,000. Saratoga Research & Investment Management acquired a new position in shares of Intrepid Potash during the 3rd quarter worth approximately $157,000. Finally, Nationwide Fund Advisors boosted its holdings in shares of Intrepid Potash by 324.6% during the 2nd quarter. Nationwide Fund Advisors now owns 69,865 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 53,410 shares during the last quarter. Institutional investors and hedge funds own 47.30% of the company’s stock.
Intrepid Potash Company Profile
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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