Intrepid Potash (NYSE:IPI) Trading Down 7.8% – Time to Sell?

Intrepid Potash, Inc (NYSE:IPI) fell 7.8% during trading on Thursday . The company traded as low as $38.41 and last traded at $38.35. 165,353 shares were traded during trading, a decline of 48% from the average session volume of 320,844 shares. The stock had previously closed at $41.59.

Analysts Set New Price Targets

A number of brokerages have recently commented on IPI. UBS Group lifted their price target on shares of Intrepid Potash from $24.00 to $25.00 and gave the stock a “sell” rating in a report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intrepid Potash in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Sell” and a consensus price target of $25.00.

Intrepid Potash Price Performance

The stock has a market capitalization of $507.47 million, a price-to-earnings ratio of 44.26 and a beta of 1.39. The firm’s fifty day moving average is $38.18 and its 200-day moving average is $31.65.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Wednesday, March 4th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.23. The firm had revenue of $75.88 million for the quarter, compared to analysts’ expectations of $65.25 million. Intrepid Potash had a net margin of 3.75% and a return on equity of 3.93%. On average, sell-side analysts expect that Intrepid Potash, Inc will post -0.17 EPS for the current year.

Institutional Trading of Intrepid Potash

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Intrepid Potash by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock valued at $193,000 after acquiring an additional 312 shares in the last quarter. Peapod Lane Capital LLC raised its holdings in Intrepid Potash by 0.7% in the fourth quarter. Peapod Lane Capital LLC now owns 46,086 shares of the basic materials company’s stock valued at $1,278,000 after acquiring an additional 339 shares in the last quarter. Glenorchy Capital Ltd raised its holdings in Intrepid Potash by 0.6% in the fourth quarter. Glenorchy Capital Ltd now owns 59,032 shares of the basic materials company’s stock valued at $1,637,000 after acquiring an additional 355 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Intrepid Potash by 197.8% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 544 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Intrepid Potash by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 607 shares in the last quarter. 56.13% of the stock is owned by institutional investors and hedge funds.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.