Intrepid Potash (NYSE:IPI) Stock Rating Upgraded by Zacks Research

Intrepid Potash (NYSE:IPIGet Free Report) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

A number of other brokerages have also recently issued reports on IPI. Freedom Capital upgraded shares of Intrepid Potash to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Intrepid Potash in a research note on Wednesday, August 19th. Finally, UBS Group boosted their price target on Intrepid Potash from $26.00 to $29.00 and gave the company a “sell” rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.00.

Get Our Latest Analysis on Intrepid Potash

Intrepid Potash Trading Down 0.8%

Shares of IPI opened at $41.21 on Tuesday. The stock has a market cap of $554.66 million, a P/E ratio of 20.81 and a beta of 1.26. Intrepid Potash has a 1 year low of $22.55 and a 1 year high of $50.34. The stock’s 50-day moving average price is $36.33 and its two-hundred day moving average price is $37.78.

Intrepid Potash (NYSE:IPIGet Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.22). The company had revenue of $66.69 million during the quarter, compared to the consensus estimate of $64.86 million. Intrepid Potash had a net margin of 8.94% and a return on equity of 4.74%. As a group, equities analysts forecast that Intrepid Potash will post 1.86 EPS for the current year.

Institutional Investors Weigh In On Intrepid Potash

A number of institutional investors and hedge funds have recently made changes to their positions in IPI. EverSource Wealth Advisors LLC grew its stake in shares of Intrepid Potash by 197.8% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $29,000 after buying an additional 544 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Intrepid Potash in the 1st quarter valued at about $37,000. Quantbot Technologies LP acquired a new position in shares of Intrepid Potash during the 2nd quarter worth about $41,000. Tower Research Capital LLC TRC raised its holdings in shares of Intrepid Potash by 80.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 607 shares during the period. Finally, State of Wyoming acquired a new stake in Intrepid Potash in the 2nd quarter valued at about $54,000. Institutional investors own 56.13% of the company’s stock.

About Intrepid Potash

(Get Free Report)

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.

Further Reading

Receive News & Ratings for Intrepid Potash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intrepid Potash and related companies with MarketBeat.com's FREE daily email newsletter.