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

Intrepid Potash (NYSE:IPI) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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

Intrepid Potash Price Performance

Intrepid Potash stock traded down $1.90 during mid-day trading on Wednesday, reaching $26.89. 296,728 shares of the company traded hands, compared to its average volume of 48,319. The firm’s 50 day moving average price is $24.29 and its 200 day moving average price is $23.98. The firm has a market capitalization of $357.03 million, a price-to-earnings ratio of -8.03 and a beta of 2.18. Intrepid Potash has a 52-week low of $17.52 and a 52-week high of $29.75.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The company had revenue of $57.55 million for the quarter, compared to analysts’ expectations of $42.57 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period in the previous year, the firm posted ($0.53) earnings per share. On average, sell-side analysts anticipate that Intrepid Potash will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPI. Empowered Funds LLC boosted its position in shares of Intrepid Potash by 7.7% during the 1st quarter. Empowered Funds LLC now owns 31,732 shares of the basic materials company’s stock valued at $662,000 after acquiring an additional 2,275 shares during the last quarter. Marquette Asset Management LLC bought a new position in shares of Intrepid Potash during the 1st quarter valued at approximately $144,000. First Eagle Investment Management LLC boosted its position in shares of Intrepid Potash by 19.4% during the 1st quarter. First Eagle Investment Management LLC now owns 481,670 shares of the basic materials company’s stock valued at $10,048,000 after acquiring an additional 78,200 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Intrepid Potash by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 553,185 shares of the basic materials company’s stock valued at $11,539,000 after acquiring an additional 14,133 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Intrepid Potash by 517.6% during the 1st quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company’s stock valued at $1,211,000 after acquiring an additional 48,715 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors.

Intrepid Potash Company Profile

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.