Intrepid Potash (NYSE:IPI) Price Target Lowered to $20.00 at UBS Group

Intrepid Potash (NYSE:IPI) had its target price reduced by stock analysts at UBS Group from $21.00 to $20.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the basic materials company’s stock. UBS Group’s price target points to a potential downside of 16.16% from the stock’s previous close.

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 Down 3.1 %

Shares of IPI stock traded down $0.76 during trading hours on Tuesday, hitting $23.86. 109,386 shares of the company’s stock traded hands, compared to its average volume of 126,024. The stock has a market cap of $315.53 million, a price-to-earnings ratio of -7.07 and a beta of 2.23. Intrepid Potash has a 12-month low of $18.32 and a 12-month high of $29.75. The stock’s fifty day simple moving average is $25.07 and its two-hundred day simple moving average is $24.93.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $55.80 million during the quarter, compared to analysts’ expectations of $50.35 million. During the same period in the previous year, the business earned ($0.41) earnings per share. On average, equities analysts forecast that Intrepid Potash will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Robert P. Jornayvaz III sold 5,454 shares of Intrepid Potash stock in a transaction on Monday, December 9th. The shares were sold at an average price of $26.24, for a total value of $143,112.96. Following the completion of the sale, the insider now owns 371,533 shares in the company, valued at approximately $9,749,025.92. The trade was a 1.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 341,412 shares of company stock worth $8,725,988 in the last 90 days. 18.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intrepid Potash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new position in Intrepid Potash during the fourth quarter valued at approximately $1,007,000. Two Sigma Investments LP increased its stake in shares of Intrepid Potash by 16.7% in the 4th quarter. Two Sigma Investments LP now owns 75,974 shares of the basic materials company’s stock valued at $1,665,000 after buying an additional 10,894 shares during the period. State of Wyoming acquired a new stake in shares of Intrepid Potash during the fourth quarter worth $46,000. Lazard Asset Management LLC bought a new stake in shares of Intrepid Potash in the fourth quarter worth about $153,000. Finally, Glenorchy Capital Ltd grew its holdings in shares of Intrepid Potash by 1.1% during the fourth quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock worth $1,379,000 after buying an additional 714 shares in the last quarter. Institutional investors own 56.13% of the company’s stock.

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.