Intrepid Potash (NYSE:IPI) Upgraded to “Hold” at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Intrepid Potash (NYSE:IPI – Free Report) from a sell rating to a hold rating in a report released on Wednesday morning.

Separately, UBS Group boosted their price target on shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a report on Tuesday.

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Intrepid Potash Stock Performance

Shares of IPI stock opened at $26.89 on Wednesday. Intrepid Potash has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The stock has a market capitalization of $357.03 million, a P/E ratio of -8.03 and a beta of 2.18. The company has a 50 day moving average price of $24.34 and a 200 day moving average price of $24.00.

Intrepid Potash (NYSE:IPI – Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The firm had revenue of $57.55 million for the quarter, compared to analyst estimates of $42.57 million. During the same quarter last year, the firm earned ($0.53) EPS. On average, research analysts forecast that Intrepid Potash will post 0.27 EPS for the current fiscal year.

Institutional Trading of Intrepid Potash

Several institutional investors have recently modified their holdings of IPI. SG Americas Securities LLC purchased a new stake in shares of Intrepid Potash during the 3rd quarter worth approximately $142,000. Marquette Asset Management LLC purchased a new stake in shares of Intrepid Potash during the 1st quarter worth approximately $144,000. Squarepoint Ops LLC purchased a new stake in shares of Intrepid Potash during the 2nd quarter worth approximately $303,000. Rhumbline Advisers raised its position in Intrepid Potash by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 861 shares during the last quarter. Finally, Empowered Funds LLC raised its position in Intrepid Potash by 7.7% in the 1st quarter. Empowered Funds LLC now owns 31,732 shares of the basic materials company’s stock valued at $662,000 after purchasing an additional 2,275 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Intrepid Potash Company Profile

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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.

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