Intrepid Potash (NYSE:IPI) Posts Earnings Results, Misses Expectations By $0.22 EPS

Intrepid Potash (NYSE:IPI) issued its quarterly earnings data on Tuesday. The basic materials company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.22), FiscalAI reports. Intrepid Potash had a return on equity of 4.80% and a net margin of 8.94%.The firm had revenue of $66.69 million for the quarter, compared to analyst estimates of $64.86 million.

Intrepid Potash Price Performance

Intrepid Potash stock traded up $0.40 during midday trading on Thursday, reaching $34.15. The company had a trading volume of 90,301 shares, compared to its average volume of 267,223. Intrepid Potash has a 12-month low of $22.55 and a 12-month high of $50.34. The company has a market capitalization of $458.67 million, a P/E ratio of 17.24 and a beta of 1.24. The firm’s fifty day simple moving average is $34.84 and its 200-day simple moving average is $36.96.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IPI. Weiss Ratings raised shares of Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Zacks Research downgraded shares of Intrepid Potash from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. UBS Group increased their target price on shares of Intrepid Potash from $25.00 to $26.00 and gave the stock a “sell” rating in a research note on Thursday, May 14th. Finally, Freedom Capital upgraded Intrepid Potash to a “strong-buy” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Intrepid Potash has a consensus rating of “Hold” and a consensus target price of $26.00.

Insider Activity at Intrepid Potash

In other news, Director Lori A. Lancaster sold 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $45.24, for a total value of $217,152.00. Following the transaction, the director owned 10,540 shares in the company, valued at $476,829.60. This trade represents a 31.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Intrepid Potash by 12.6% in the 3rd quarter. Vanguard Group Inc. now owns 726,027 shares of the basic materials company’s stock valued at $22,202,000 after acquiring an additional 81,121 shares during the last quarter. Renaissance Technologies LLC lifted its position in Intrepid Potash by 68.0% during the fourth quarter. Renaissance Technologies LLC now owns 167,092 shares of the basic materials company’s stock worth $4,633,000 after buying an additional 67,621 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in Intrepid Potash by 7.5% during the third quarter. Bridgeway Capital Management LLC now owns 120,517 shares of the basic materials company’s stock worth $3,685,000 after buying an additional 8,432 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Intrepid Potash by 4.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 100,257 shares of the basic materials company’s stock worth $3,066,000 after buying an additional 3,940 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Intrepid Potash by 21.9% during the third quarter. Millennium Management LLC now owns 97,068 shares of the basic materials company’s stock worth $2,968,000 after buying an additional 17,420 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

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.