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

Intrepid Potash (NYSE:IPI) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also issued reports about the company. Freedom Capital raised Intrepid Potash to a “strong-buy” rating in a research report on Friday, July 24th. Weiss Ratings upgraded Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Finally, UBS Group increased their price target on Intrepid Potash from $25.00 to $26.00 and gave the company a “sell” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Intrepid Potash has an average rating of “Hold” and an average target price of $26.00.

Intrepid Potash Stock Performance

Shares of NYSE IPI opened at $36.97 on Monday. The firm has a 50 day moving average price of $34.63 and a two-hundred day moving average price of $37.04. The stock has a market cap of $497.55 million, a P/E ratio of 18.67 and a beta of 1.24. Intrepid Potash has a 52-week low of $22.55 and a 52-week high of $50.34.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.22). Intrepid Potash had a return on equity of 4.74% and a net margin of 8.94%.The business had revenue of $66.69 million for the quarter, compared to analyst estimates of $64.86 million. Analysts predict that Intrepid Potash will post 1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

Several large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Intrepid Potash in the second quarter valued at $37,879,000. Gate City Capital Management LLC boosted its position in Intrepid Potash by 338.6% during the fourth quarter. Gate City Capital Management LLC now owns 914,026 shares of the basic materials company’s stock valued at $25,346,000 after acquiring an additional 705,638 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Intrepid Potash by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 734,413 shares of the basic materials company’s stock worth $31,413,000 after acquiring an additional 16,813 shares during the period. Vanguard Group Inc. grew its holdings in Intrepid Potash by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 726,027 shares of the basic materials company’s stock worth $22,202,000 after acquiring an additional 81,121 shares during the period. Finally, Goehring & Rozencwajg Associates LLC raised its position in shares of Intrepid Potash by 21.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 267,097 shares of the basic materials company’s stock worth $11,424,000 after acquiring an additional 47,781 shares in the last quarter. 56.13% of the stock is currently 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.