Intrepid Potash, Inc (IPI) – What Are Investment Firms Saying About This Stock?

Intrepid Potash, Inc (NYSE:IPI) has been given a consensus rating of “Moderate Buy” by the five research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $35.00.

Several analysts have recently commented on IPI shares. UBS Group reaffirmed a “buy” rating on shares of Intrepid Potash in a research report on Monday. Freedom Capital raised Intrepid Potash to a “strong-buy” rating in a research report on Friday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Intrepid Potash in a research report on Wednesday, August 19th. Zacks Research downgraded Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 7th. Finally, Freedom Broker decreased their price objective on Intrepid Potash from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday.

Institutional Trading of Intrepid Potash

A number of hedge funds have recently made changes to their positions in the stock. Covestor Ltd increased its stake in Intrepid Potash by 4,305.0% in the 3rd quarter. Covestor Ltd now owns 881 shares of the potash and fertilizer producer’s stock valued at $29,000 after buying an additional 861 shares during the period. Empowered Funds LLC purchased a new stake in Intrepid Potash in the 2nd quarter worth approximately $2,668,000. Bank of America Corp DE purchased a new stake in Intrepid Potash in the 2nd quarter worth approximately $578,000. Hsbc Holdings PLC purchased a new stake in Intrepid Potash in the 2nd quarter worth approximately $295,000. Finally, PDT Partners LLC acquired a new stake in shares of Intrepid Potash during the 2nd quarter valued at $2,031,000. 56.13% of the stock is owned by hedge funds and other institutional investors.

Intrepid Potash Price Performance

Intrepid Potash stock traded down $0.59 during midday trading on Monday, reaching $30.99. The stock had a trading volume of 139,520 shares, compared to its average volume of 247,796. The firm’s fifty day simple moving average is $35.40 and its two-hundred day simple moving average is $36.51. Intrepid Potash has a twelve month low of $22.55 and a twelve month high of $50.34. The firm has a market cap of $417.07 million, a price-to-earnings ratio of 15.65 and a beta of 1.31.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Tuesday, August 4th. The potash and fertilizer producer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.22). Intrepid Potash had a net margin of 8.94% and a return on equity of 4.74%. The firm had revenue of $66.69 million for the quarter, compared to analyst estimates of $64.86 million. As a group, sell-side analysts predict that Intrepid Potash will post 1.77 EPS for the current fiscal year.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a U.S.-based mineral producer specializing in potash and specialty fertilizers.