Intrepid Potash (NYSE:IPI) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Intrepid Potash (NYSE:IPIFree Report) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks reports.

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

Read Our Latest Research Report on Intrepid Potash

Intrepid Potash Stock Down 0.8%

Intrepid Potash stock opened at $41.21 on Tuesday. The firm has a fifty day moving average of $36.33 and a 200-day moving average of $37.78. Intrepid Potash has a 52-week low of $22.55 and a 52-week high of $50.34. The firm has a market capitalization of $554.66 million, a P/E ratio of 20.81 and a beta of 1.26.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IPI. EverSource Wealth Advisors LLC increased its holdings in shares of Intrepid Potash by 197.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 544 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Intrepid Potash in the first quarter worth $37,000. Quantbot Technologies LP acquired a new position in Intrepid Potash in the second quarter worth $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Intrepid Potash during the fourth quarter valued at $44,000. Finally, Tower Research Capital LLC TRC increased its stake in Intrepid Potash by 80.6% during the second 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 last quarter. Institutional investors own 56.13% of the company’s stock.

Intrepid Potash Company Profile

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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.

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