Intrepid Potash, Inc. (IPI) Receives Average Recommendation of “Hold” from Brokerages

Intrepid Potash, Inc. (NYSE:IPI) has been assigned an average rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $3.56.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Intrepid Potash from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. ValuEngine cut Intrepid Potash from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Finally, Cowen upgraded Intrepid Potash from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $3.56 to $3.75 in a research note on Monday, March 5th.

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In other Intrepid Potash news, major shareholder Clearway Capital Management Lt purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $3.48 per share, for a total transaction of $348,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert P. Jornayvaz III purchased 15,900 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was acquired at an average price of $3.30 per share, with a total value of $52,470.00. Following the purchase, the chief executive officer now directly owns 1,206,650 shares of the company’s stock, valued at $3,981,945. The disclosure for this purchase can be found here. Insiders bought 327,244 shares of company stock valued at $1,097,905 in the last 90 days. Company insiders own 27.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of IPI. Dimensional Fund Advisors LP raised its stake in shares of Intrepid Potash by 82.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,181,060 shares of the basic materials company’s stock worth $13,870,000 after purchasing an additional 1,435,178 shares during the last quarter. State Street Corp raised its stake in shares of Intrepid Potash by 3,191.0% in the second quarter. State Street Corp now owns 1,144,560 shares of the basic materials company’s stock worth $2,590,000 after purchasing an additional 1,109,782 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Intrepid Potash in the fourth quarter worth $1,839,000. James Investment Research Inc. purchased a new position in shares of Intrepid Potash in the fourth quarter worth $988,000. Finally, Royce & Associates LP raised its stake in shares of Intrepid Potash by 31.4% in the fourth quarter. Royce & Associates LP now owns 761,955 shares of the basic materials company’s stock worth $3,627,000 after purchasing an additional 182,000 shares during the last quarter. Hedge funds and other institutional investors own 46.87% of the company’s stock.

Shares of NYSE:IPI opened at $3.71 on Friday. The firm has a market cap of $484.20, a price-to-earnings ratio of -20.61 and a beta of 0.87. Intrepid Potash has a 12-month low of $1.58 and a 12-month high of $5.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 0.77.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data on Tuesday, February 27th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). The company had revenue of $33.30 million for the quarter, compared to analysts’ expectations of $30.68 million. Intrepid Potash had a negative net margin of 14.54% and a negative return on equity of 5.31%. The firm’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) EPS. research analysts anticipate that Intrepid Potash will post 0.12 EPS for the current year.

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Intrepid Potash Company Profile

Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.

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