Intrepid Potash, Inc. (IPI) Given Average Recommendation of “Hold” by Brokerages

Intrepid Potash, Inc. (NYSE:IPI) has been assigned an average rating of “Hold” from the six research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $3.55.

A number of equities analysts have issued reports on IPI shares. BMO Capital Markets lifted their target price 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. Stephens started coverage on shares of Intrepid Potash in a research report on Monday, December 4th. They set an “equal weight” rating and a $4.00 target price for the company. Finally, Cowen restated a “sell” rating and set a $3.50 target price on shares of Intrepid Potash in a research report on Friday, December 1st.

In related news, insider Robert P. Jornayvaz III bought 10,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was purchased at an average cost of $3.85 per share, for a total transaction of $38,500.00. Following the completion of the acquisition, the insider now owns 1,206,650 shares in the company, valued at $4,645,602.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James N. Whyte sold 86,796 shares of the business’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. In the last 90 days, insiders have acquired 25,100 shares of company stock valued at $93,003. 27.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in 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 period. New York State Common Retirement Fund lifted its position in shares of Intrepid Potash by 35.2% during the third quarter. New York State Common Retirement Fund now owns 78,807 shares of the basic materials company’s stock worth $344,000 after purchasing an additional 20,507 shares in the last quarter. Creative Planning acquired a new position in shares of Intrepid Potash during the fourth quarter worth $101,000. Schwab Charles Investment Management Inc. lifted its position in shares of Intrepid Potash by 17.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 186,797 shares of the basic materials company’s stock worth $890,000 after purchasing an additional 27,197 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Intrepid Potash by 226.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 42,683 shares of the basic materials company’s stock worth $186,000 after purchasing an additional 29,610 shares in the last quarter. Hedge funds and other institutional investors own 47.83% of the company’s stock.

Shares of Intrepid Potash (NYSE IPI) traded down $0.01 on Tuesday, reaching $4.19. 590,900 shares of the company’s stock were exchanged, compared to its average volume of 1,187,043. The company has a current ratio of 4.71, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $549.24, a PE ratio of -9.11 and a beta of 1.12. Intrepid Potash has a one year low of $1.24 and a one year high of $5.12.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Monday, October 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $32.06 million during the quarter, compared to analysts’ expectations of $33.15 million. Intrepid Potash had a negative net margin of 22.88% and a negative return on equity of 8.09%. The firm’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.22) earnings per share. research analysts predict that Intrepid Potash will post -0.15 earnings per share for the current fiscal year.

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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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