Shares of Intrepid Potash (NYSE:IPI) have been given an average rating of “Hold” by the seven analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $3.56.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Cowen upgraded shares of Intrepid Potash from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $3.56 to $3.75 in a research report on Monday, March 5th. Finally, ValuEngine downgraded shares of Intrepid Potash from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st.
Shares of NYSE:IPI remained flat at $$4.01 on Friday. 131,439 shares of the stock traded hands, compared to its average volume of 973,530. Intrepid Potash has a 1-year low of $1.58 and a 1-year high of $5.12. The company has a quick ratio of 0.77, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $499.86, a P/E ratio of -22.06 and a beta of 0.87.
Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Tuesday, February 27th. The basic materials company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). Intrepid Potash had a negative return on equity of 5.31% and a negative net margin of 14.54%. The company had revenue of $33.30 million for the quarter, compared to analyst estimates of $30.68 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. The company’s quarterly revenue was down 21.1% on a year-over-year basis. research analysts forecast that Intrepid Potash will post 0.12 earnings per share for the current fiscal year.
In other news, CEO Robert P. Jornayvaz III acquired 15,900 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was acquired at an average price of $3.30 per share, for a total transaction of $52,470.00. Following the completion of the transaction, the chief executive officer now owns 1,206,650 shares in the company, valued at approximately $3,981,945. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Clearway Capital Management Lt acquired 211,344 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average price of $3.30 per share, with a total value of $697,435.20. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 327,244 shares of company stock valued at $1,097,905. Insiders own 27.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Creative Planning purchased a new stake in shares of Intrepid Potash during the fourth quarter worth about $101,000. MetLife Investment Advisors LLC purchased a new stake in shares of Intrepid Potash during the fourth quarter worth about $106,000. Jane Street Group LLC purchased a new stake in shares of Intrepid Potash during the fourth quarter worth about $118,000. LPL Financial LLC purchased a new stake in shares of Intrepid Potash during the fourth quarter worth about $132,000. Finally, Jefferies Group LLC purchased a new stake in shares of Intrepid Potash during the fourth quarter worth about $149,000. 46.87% of the stock is owned by institutional investors and hedge funds.
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About Intrepid Potash
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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