According to Zacks, “INTREPID POTASH, Inc. is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and langbeinite, another mineral containing potassium. Intrepid owns five active potash production facilities — three in New Mexico and two in Utah “
Several other research firms also recently weighed in on IPI. TheStreet downgraded shares of Bancorp from a b- rating to a c rating in a research report on Monday, April 8th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $5.00.
Shares of IPI stock opened at $3.56 on Thursday. Intrepid Potash has a 12-month low of $2.51 and a 12-month high of $4.41. The company has a quick ratio of 1.94, a current ratio of 4.31 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $3.31. The stock has a market capitalization of $466.51 million, a PE ratio of 39.56 and a beta of 1.19.
Intrepid Potash (NYSE:IPI) last issued its earnings results on Tuesday, May 7th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Intrepid Potash had a net margin of 8.11% and a return on equity of 4.02%. The company had revenue of $57.60 million for the quarter, compared to analysts’ expectations of $53.90 million. During the same quarter last year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts predict that Intrepid Potash will post 0.2 EPS for the current year.
In other Intrepid Potash news, insider Robert P. Jornayvaz III purchased 17,675 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $3.11 per share, for a total transaction of $54,969.25. Following the completion of the transaction, the insider now owns 2,089,144 shares of the company’s stock, valued at $6,497,237.84. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert P. Jornayvaz III purchased 15,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $3.11 per share, for a total transaction of $46,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,089,144 shares of the company’s stock, valued at approximately $6,497,237.84. The disclosure for this purchase can be found here. Insiders acquired 62,205 shares of company stock worth $197,554 over the last quarter. Insiders own 27.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. ETF Managers Group LLC increased its holdings in Intrepid Potash by 9.8% in the 1st quarter. ETF Managers Group LLC now owns 39,325 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 3,498 shares during the last quarter. Legal & General Group Plc increased its holdings in Intrepid Potash by 24.1% in the 4th quarter. Legal & General Group Plc now owns 18,218 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 3,533 shares during the last quarter. Investors Research Corp bought a new stake in Intrepid Potash in the 1st quarter valued at $25,000. Squarepoint Ops LLC bought a new stake in Intrepid Potash in the 4th quarter valued at $27,000. Finally, Schneider Capital Management Corp increased its holdings in Intrepid Potash by 9.6% in the 1st quarter. Schneider Capital Management Corp now owns 122,105 shares of the basic materials company’s stock valued at $463,000 after acquiring an additional 10,725 shares during the last quarter. Hedge funds and other institutional investors own 43.67% of the company’s stock.
Intrepid Potash Company Profile
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.
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