Analysts’ Recent Ratings Changes for Intrepid Potash (IPI)

Several brokerages have updated their recommendations and price targets on shares of Intrepid Potash (NYSE: IPI) in the last few weeks:

• 4/8/2022 – Intrepid Potash was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 4/7/2022 – Intrepid Potash was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $94.00 price target on the stock. According to Zacks, “INTREPID POTASH, Inc. is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and langbeinite, another mineral containing potassium. Intrepid owns five active potash production facilities — three in New Mexico and two in Utah “
• 4/2/2022 – Intrepid Potash was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “INTREPID POTASH, Inc. is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and langbeinite, another mineral containing potassium. Intrepid owns five active potash production facilities — three in New Mexico and two in Utah “
• 3/31/2022 – Intrepid Potash is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/30/2022 – Intrepid Potash was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $88.00 price target on the stock. According to Zacks, “INTREPID POTASH, Inc. is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and langbeinite, another mineral containing potassium. Intrepid owns five active potash production facilities — three in New Mexico and two in Utah “
• 3/22/2022 – Intrepid Potash was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/12/2022 – Intrepid Potash was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/10/2022 – Intrepid Potash was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
• 3/4/2022 – Intrepid Potash was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 2/18/2022 – Intrepid Potash was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Shares of NYSE IPI traded down $3.72 during midday trading on Tuesday, reaching $115.78. 11,032 shares of the company were exchanged, compared to its average volume of 442,330. Intrepid Potash, Inc. has a 1 year low of $22.82 and a 1 year high of $121.72. The stock has a fifty day simple moving average of $73.10 and a 200 day simple moving average of $53.05. The stock has a market cap of $1.58 billion, a P/E ratio of 6.22 and a beta of 2.12.

Intrepid Potash (NYSE:IPI – Get Rating) last released its quarterly earnings results on Monday, March 7th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.56). Intrepid Potash had a return on equity of 4.47% and a net margin of 92.42%. The company had revenue of $64.04 million for the quarter. During the same quarter in the prior year, the company posted ($0.05) earnings per share. As a group, equities research analysts predict that Intrepid Potash, Inc. will post 7.03 earnings per share for the current year.

In other Intrepid Potash news, major shareholder Clearway Capital Management Ll sold 10,000 shares of Intrepid Potash stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $46.46, for a total value of $464,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Robert E. Baldridge sold 16,039 shares of Intrepid Potash stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $64.89, for a total value of $1,040,770.71. The disclosure for this sale can be found here. Insiders sold a total of 150,956 shares of company stock worth $9,881,704 in the last ninety days. 26.30% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of IPI. Citigroup Inc. lifted its position in shares of Intrepid Potash by 139.7% during the 3rd quarter. Citigroup Inc. now owns 1,136 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 662 shares during the period. First Quadrant L P CA acquired a new stake in shares of Intrepid Potash during the 4th quarter valued at approximately $37,000. New York State Teachers Retirement System acquired a new stake in shares of Intrepid Potash during the 4th quarter valued at approximately $38,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Intrepid Potash during the 4th quarter valued at approximately $38,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Intrepid Potash during the 4th quarter valued at approximately $42,000. Institutional investors own 37.41% of the company’s stock.

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.

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