Intrepid Potash (NYSE:IPI) Stock Price Expected to Rise, UBS Group Analyst Says

Intrepid Potash (NYSE:IPI) had its price objective hoisted by UBS Group from $19.00 to $21.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the basic materials company’s stock. UBS Group’s target price would indicate a potential downside of 20.76% from the company’s current price.

Separately, StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Intrepid Potash Stock Performance

Shares of IPI opened at $26.50 on Tuesday. Intrepid Potash has a twelve month low of $17.52 and a twelve month high of $29.75. The firm has a market cap of $348.77 million, a PE ratio of -7.96 and a beta of 2.23. The firm’s 50 day moving average price is $25.04 and its 200 day moving average price is $24.65.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The firm had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period in the prior year, the business earned ($0.53) EPS. On average, sell-side analysts anticipate that Intrepid Potash will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Robert P. Jornayvaz III sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $29.00, for a total transaction of $870,000.00. Following the completion of the transaction, the insider now directly owns 1,444,513 shares of the company’s stock, valued at $41,890,877. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 431,264 shares of company stock worth $11,004,385. Company insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On Intrepid Potash

Hedge funds have recently made changes to their positions in the business. R Squared Ltd bought a new position in shares of Intrepid Potash in the fourth quarter valued at $38,000. SG Americas Securities LLC bought a new position in shares of Intrepid Potash in the third quarter valued at $142,000. Quest Partners LLC grew its stake in shares of Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after buying an additional 9,448 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Intrepid Potash during the 2nd quarter valued at $303,000. Finally, Barclays PLC lifted its holdings in Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 10,599 shares during the last quarter. 56.13% of the stock is owned by institutional investors.

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.