Intrepid Potash (NYSE:IPI) Issues Earnings Results, Misses Estimates By $0.06 EPS

Intrepid Potash (NYSE:IPI) released its quarterly earnings data on Monday. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06), Zacks reports. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%.

Intrepid Potash Trading Down 5.8 %

NYSE:IPI traded down $1.52 during trading hours on Monday, reaching $24.57. The company had a trading volume of 222,082 shares, compared to its average volume of 126,500. The firm has a market cap of $324.99 million, a price-to-earnings ratio of -7.33 and a beta of 2.23. The firm’s 50 day moving average price is $25.07 and its 200-day moving average price is $24.93. Intrepid Potash has a 52 week low of $18.32 and a 52 week high of $29.75.

Analyst Upgrades and Downgrades

IPI has been the topic of a number of research analyst reports. UBS Group upped their price target on Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, January 28th. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Insider Activity

In related news, major shareholder Robert P. Jornayvaz III sold 14,736 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.67, for a total transaction of $378,273.12. Following the completion of the sale, the insider now owns 1,212,823 shares in the company, valued at approximately $31,133,166.41. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 341,412 shares of company stock valued at $8,725,988 in the last ninety days. 18.00% of the stock is currently owned by company insiders.

Intrepid Potash Company Profile

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 company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.