StockNews.com Downgrades Intrepid Potash (NYSE:IPI) to Sell

StockNews.com cut shares of Intrepid Potash (NYSE:IPI) from a hold rating to a sell rating in a research report report published on Thursday morning.

Separately, UBS Group lowered their target price on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating on the stock in a research note on Tuesday, March 4th.

Intrepid Potash Trading Down 0.6 %

Shares of Intrepid Potash stock opened at $30.07 on Thursday. Intrepid Potash has a twelve month low of $18.83 and a twelve month high of $31.29. The firm has a market capitalization of $397.73 million, a PE ratio of -8.98 and a beta of 2.18. The firm’s 50-day moving average price is $26.71 and its 200 day moving average price is $25.46.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The firm had revenue of $55.80 million during the quarter, compared to analysts’ expectations of $50.35 million. During the same quarter last year, the business earned ($0.41) EPS. On average, sell-side analysts predict that Intrepid Potash will post -0.17 EPS for the current fiscal year.

Insider Transactions at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 14,736 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.67, for a total value of $378,273.12. Following the completion of the sale, the insider now directly owns 1,212,823 shares of the company’s stock, valued at $31,133,166.41. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 218,821 shares of company stock worth $5,893,545 in the last ninety days. Insiders own 18.00% of the company’s stock.

Institutional Investors Weigh In On Intrepid Potash

A number of hedge funds have recently modified their holdings of IPI. American Century Companies Inc. boosted its holdings in Intrepid Potash by 0.3% in the 4th quarter. American Century Companies Inc. now owns 185,844 shares of the basic materials company’s stock valued at $4,074,000 after purchasing an additional 577 shares during the last quarter. Glenorchy Capital Ltd lifted its holdings in Intrepid Potash by 1.1% in the fourth quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock valued at $1,379,000 after acquiring an additional 714 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Intrepid Potash by 14.0% in the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 830 shares during the last quarter. Goehring & Rozencwajg Associates LLC grew its position in Intrepid Potash by 0.6% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company’s stock worth $4,803,000 after acquiring an additional 1,272 shares during the period. Finally, State Street Corp increased its stake in Intrepid Potash by 0.6% during the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after acquiring an additional 1,402 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

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.