Intrepid Potash (NYSE:IPI)‘s stock had its “sell” rating reaffirmed by stock analysts at Cowen in a note issued to investors on Friday. They presently have a $3.50 target price on the basic materials company’s stock. Cowen’s price objective suggests a potential downside of 8.38% from the company’s previous close.

Several other brokerages have also weighed in on IPI. BMO Capital Markets lifted their target price on shares of Intrepid Potash from $3.00 to $4.00 and gave the company a “market perform” rating in a research report on Tuesday, October 31st. UBS lowered shares of Intrepid Potash from a “neutral” rating to a “sell” rating and lifted their target price for the company from $2.00 to $2.50 in a research report on Monday, August 7th. Finally, Zacks Investment Research raised shares of Intrepid Potash from a “sell” rating to a “buy” rating and set a $3.75 price target for the company in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $3.44.

Intrepid Potash (NYSE IPI) traded up $0.12 during midday trading on Friday, reaching $3.82. 845,000 shares of the company’s stock traded hands, compared to its average volume of 1,598,982. The company has a current ratio of 4.71, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. Intrepid Potash has a 52 week low of $1.22 and a 52 week high of $4.63.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Monday, October 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $32.06 million for the quarter, compared to analyst estimates of $33.15 million. Intrepid Potash had a negative net margin of 22.88% and a negative return on equity of 8.09%. The business’s quarterly revenue was down 26.5% on a year-over-year basis. During the same period last year, the business posted ($0.22) EPS. research analysts forecast that Intrepid Potash will post -0.18 EPS for the current fiscal year.

In related news, EVP James N. Whyte sold 86,796 shares of Intrepid Potash stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $3.84, for a total transaction of $333,296.64. Following the completion of the transaction, 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 at the SEC website. Company insiders own 27.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in IPI. Radnor Capital Management LLC raised its stake in shares of Intrepid Potash by 87.1% in the second quarter. Radnor Capital Management LLC now owns 46,400 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 21,600 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Intrepid Potash by 12.3% during the second quarter. Wells Fargo & Company MN now owns 57,809 shares of the basic materials company’s stock worth $131,000 after buying an additional 6,336 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of Intrepid Potash during the second quarter worth approximately $132,000. LMR Partners LLP bought a new stake in shares of Intrepid Potash during the third quarter worth approximately $155,000. Finally, Saratoga Research & Investment Management bought a new stake in shares of Intrepid Potash during the third quarter worth approximately $157,000. 48.00% of the stock is owned by institutional investors.

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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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