Intrepid Potash (NYSE:IPI) Stock Rating Lowered by Zacks Research

Intrepid Potash (NYSE:IPI) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks reports.

A number of other equities analysts also recently issued reports on IPI. Freedom Capital upgraded 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. Finally, UBS Group raised their price target on shares of Intrepid Potash from $26.00 to $29.00 and gave the stock a “sell” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $29.00.

Intrepid Potash Stock Down 0.0%

Shares of Intrepid Potash stock opened at $33.07 on Wednesday. The stock has a market cap of $445.01 million, a price-to-earnings ratio of 16.70 and a beta of 1.31. Intrepid Potash has a twelve month low of $22.55 and a twelve month high of $50.34. The company’s fifty day moving average is $36.76 and its 200 day moving average is $37.29.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC bought a new stake in Intrepid Potash in the second quarter worth approximately $2,668,000. Bank of America Corp DE bought a new position in shares of Intrepid Potash during the 2nd quarter worth approximately $578,000. Hsbc Holdings PLC bought a new position in shares of Intrepid Potash during the 2nd quarter worth approximately $295,000. PDT Partners LLC acquired a new stake in shares of Intrepid Potash during the 2nd quarter worth approximately $2,031,000. Finally, Legal & General Group Plc bought a new stake in shares of Intrepid Potash in the 2nd quarter valued at $74,000. 56.13% of the stock is owned by institutional investors and hedge funds.

About Intrepid Potash

Intrepid Potash, Inc is a mineral producer focused primarily on potash and specialty fertilizer products. The company produces muriate of potash, also known as potassium chloride, as well as Trio, a granular fertilizer that supplies potassium, magnesium and sulfate. These products are used in agricultural applications to support crop growth and improve soil nutrient levels.

Intrepid also produces and sells magnesium chloride, which is used in industrial, animal-feed and road-maintenance applications, along with other mineral products and brine-related materials.