Intrepid Potash (NYSE:IPI) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Intrepid Potash (NYSE:IPI) from a buy rating to a hold rating in a report published on Saturday.

Several other research analysts have also recently issued reports on IPI. Weiss Ratings reissued a “sell (d-)” rating on shares of Intrepid Potash in a research note on Wednesday, October 8th. UBS Group decreased their price objective on Intrepid Potash from $24.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, August 7th. Finally, Zacks Research cut shares of Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Sell” and an average price target of $23.00.

Intrepid Potash Stock Up 4.4%

IPI stock opened at $26.33 on Friday. The stock has a market capitalization of $350.54 million, a price-to-earnings ratio of -1.69 and a beta of 1.85. Intrepid Potash has a twelve month low of $20.86 and a twelve month high of $39.01. The firm’s fifty day simple moving average is $28.37 and its two-hundred day simple moving average is $32.29.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $53.22 million during the quarter, compared to analysts’ expectations of $49.54 million. Intrepid Potash had a positive return on equity of 1.48% and a negative net margin of 71.13%. As a group, equities research analysts expect that Intrepid Potash will post -0.17 EPS for the current year.

Institutional Trading of Intrepid Potash

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Intrepid Potash by 12.6% in the 3rd quarter. Vanguard Group Inc. now owns 726,027 shares of the basic materials company’s stock valued at $22,202,000 after purchasing an additional 81,121 shares in the last quarter. Invenomic Capital Management LP purchased a new position in shares of Intrepid Potash in the first quarter worth about $10,210,000. Azarias Capital Management L.P. boosted its position in Intrepid Potash by 64.9% during the third quarter. Azarias Capital Management L.P. now owns 259,788 shares of the basic materials company’s stock worth $7,944,000 after acquiring an additional 102,266 shares during the last quarter. Geode Capital Management LLC boosted its position in Intrepid Potash by 0.6% during the second quarter. Geode Capital Management LLC now owns 241,039 shares of the basic materials company’s stock worth $8,614,000 after acquiring an additional 1,520 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Intrepid Potash by 24.7% during the 2nd quarter. American Century Companies Inc. now owns 230,113 shares of the basic materials company’s stock valued at $8,222,000 after acquiring an additional 45,577 shares in the last quarter. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

About Intrepid Potash

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.