StockNews.com Upgrades Intrepid Potash (NYSE:IPI) to Hold

Intrepid Potash (NYSE:IPI) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Separately, UBS Group increased their target price on shares of Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research report on Tuesday.

Intrepid Potash Stock Performance

Shares of NYSE:IPI opened at $27.88 on Wednesday. Intrepid Potash has a 52 week low of $17.52 and a 52 week high of $29.75. The firm has a market cap of $370.25 million, a PE ratio of -8.32 and a beta of 2.18. The firm’s fifty day moving average is $24.41 and its 200-day moving average is $24.02.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The company had revenue of $57.55 million for the quarter, compared to the consensus estimate of $42.57 million. During the same period in the prior year, the business earned ($0.53) earnings per share. Sell-side analysts forecast that Intrepid Potash will post 0.27 EPS for the current year.

Institutional Investors Weigh In On Intrepid Potash

Several large investors have recently added to or reduced their stakes in IPI. SG Americas Securities LLC bought a new position in Intrepid Potash in the third quarter worth approximately $142,000. Marquette Asset Management LLC purchased a new position in Intrepid Potash during the first quarter worth about $144,000. Quest Partners LLC boosted its stake in shares of Intrepid Potash by 24,863.2% in the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after buying an additional 9,448 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Intrepid Potash in the second quarter worth $303,000. Finally, Rhumbline Advisers grew its position in Intrepid Potash by 5.0% during the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after buying an additional 861 shares during the period. Institutional investors and hedge funds 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.