Intrepid Potash (NYSE:IPI – Get Rating) had its price target lowered by investment analysts at UBS Group from $38.00 to $29.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "sell" rating on the basic materials company's stock. UBS Group's price target points to a potential downside of 9.88% from the company's current price.
Other research analysts also recently issued research reports about the company. BMO Capital Markets lowered their target price on Intrepid Potash from $45.00 to $40.00 and set a "market perform" rating on the stock in a report on Friday, November 4th. StockNews.com initiated coverage on Intrepid Potash in a research report on Wednesday, October 12th. They issued a "hold" rating for the company.
Get Intrepid Potash alerts:Intrepid Potash Trading Up 5.5 %
Intrepid Potash stock opened at $32.18 on Wednesday. The business's fifty day simple moving average is $32.85 and its two-hundred day simple moving average is $39.75. Intrepid Potash has a 12 month low of $27.23 and a 12 month high of $121.72. The company has a market capitalization of $434.08 million, a price-to-earnings ratio of 1.48 and a beta of 1.95.
Intrepid Potash (NYSE:IPI – Get Rating) last released its earnings results on Wednesday, November 2nd. The basic materials company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.58). The company had revenue of $66.96 million during the quarter, compared to the consensus estimate of $69.88 million. Intrepid Potash had a return on equity of 11.05% and a net margin of 85.23%. On average, equities research analysts predict that Intrepid Potash will post 6.27 EPS for the current year.Institutional Trading of Intrepid Potash
A number of hedge funds and other institutional investors have recently bought and sold shares of IPI. PDT Partners LLC purchased a new stake in shares of Intrepid Potash during the second quarter worth about $642,000. Ellevest Inc. lifted its stake in shares of Intrepid Potash by 371.4% in the 2nd quarter. Ellevest Inc. now owns 1,584 shares of the basic materials company's stock valued at $72,000 after purchasing an additional 1,248 shares during the last quarter. Radnor Capital Management LLC lifted its stake in shares of Intrepid Potash by 4.6% during the 2nd quarter. Radnor Capital Management LLC now owns 6,835 shares of the basic materials company's stock worth $310,000 after acquiring an additional 300 shares during the last quarter. C M Bidwell & Associates Ltd. lifted its stake in shares of Intrepid Potash by 358.7% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,500 shares of the basic materials company's stock worth $113,000 after acquiring an additional 1,955 shares during the last quarter. Finally, Harvest Investment Services LLC increased its holdings in Intrepid Potash by 171.8% during the 2nd quarter. Harvest Investment Services LLC now owns 22,272 shares of the basic materials company's stock worth $1,008,000 after purchasing an additional 14,079 shares during the period. Hedge funds and other institutional investors own 55.35% of the company's stock.
Intrepid Potash Company Profile
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Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.
Further Reading
- Get a free copy of the StockNews.com research report on Intrepid Potash (IPI)
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