Equities researchers at Stephens assumed coverage on shares of Intrepid Potash (NYSE:IPI) in a report issued on Monday, Marketbeat Ratings reports. The brokerage set an “equal weight” rating and a $4.00 price target on the basic materials company’s stock. Stephens’ target price would indicate a potential upside of 11.11% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Cowen restated a “sell” rating and issued a $3.50 price target on shares of Intrepid Potash in a research note on Friday. BMO Capital Markets upped their price objective on shares of Intrepid Potash from $3.00 to $4.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 31st. Zacks Investment Research raised shares of Intrepid Potash from a “sell” rating to a “buy” rating and set a $3.75 price objective for the company in a research report on Wednesday, August 9th. Finally, UBS cut shares of Intrepid Potash from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $2.00 to $2.50 in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Intrepid Potash currently has a consensus rating of “Hold” and an average price target of $3.55.

Intrepid Potash (IPI) traded down $0.14 during mid-day trading on Monday, hitting $3.60. 620,600 shares of the company traded hands, compared to its average volume of 1,592,706. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 4.71. Intrepid Potash has a fifty-two week low of $1.24 and a fifty-two week high of $4.63.

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

In related news, EVP James N. Whyte sold 86,796 shares of the company’s 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 sale, the executive vice president now owns 360,903 shares of the company’s stock, valued at $1,385,867.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 27.30% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of IPI. Dimensional Fund Advisors LP lifted its position in Intrepid Potash by 82.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,181,060 shares of the basic materials company’s stock worth $13,870,000 after purchasing an additional 1,435,178 shares during the period. State Street Corp lifted its position in Intrepid Potash by 3,191.0% during the second quarter. State Street Corp now owns 1,144,560 shares of the basic materials company’s stock worth $2,590,000 after purchasing an additional 1,109,782 shares during the period. Vanguard Group Inc. lifted its position in Intrepid Potash by 30.5% during the second quarter. Vanguard Group Inc. now owns 4,255,979 shares of the basic materials company’s stock worth $9,619,000 after purchasing an additional 994,554 shares during the period. Northern Trust Corp lifted its holdings in shares of Intrepid Potash by 540.0% in the second quarter. Northern Trust Corp now owns 1,091,221 shares of the basic materials company’s stock worth $2,466,000 after acquiring an additional 920,720 shares during the last quarter. Finally, Old West Investment Management LLC bought a new position in shares of Intrepid Potash in the second quarter worth about $1,930,000. 47.99% of the stock is owned by institutional investors and hedge funds.

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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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