Intrepid Potash (NYSE:IPI) Shares Down 7.2% – What’s Next?

Intrepid Potash, Inc (NYSE:IPI) dropped 7.2% during trading on Friday . The stock traded as low as $44.24 and last traded at $45.3430. Approximately 242,978 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 255,170 shares. The stock had previously closed at $48.84.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IPI shares. UBS Group lifted their price target on Intrepid Potash from $24.00 to $25.00 and gave the company a “sell” rating in a report on Thursday, March 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intrepid Potash in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Sell” and a consensus target price of $25.00.

Intrepid Potash Stock Down 7.1%

The firm has a market cap of $608.49 million, a price-to-earnings ratio of 53.40 and a beta of 1.53. The stock’s 50 day moving average is $34.60 and its 200 day moving average is $30.06.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Wednesday, March 4th. The basic materials company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.26 by $0.23. The firm had revenue of $75.88 million for the quarter, compared to analysts’ expectations of $65.25 million. Intrepid Potash had a return on equity of 3.93% and a net margin of 3.75%. Analysts anticipate that Intrepid Potash, Inc will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Intrepid Potash

Several institutional investors have recently modified their holdings of IPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Intrepid Potash by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock worth $193,000 after acquiring an additional 312 shares during the period. Peapod Lane Capital LLC lifted its holdings in Intrepid Potash by 0.7% in the 4th quarter. Peapod Lane Capital LLC now owns 46,086 shares of the basic materials company’s stock valued at $1,278,000 after acquiring an additional 339 shares during the last quarter. Glenorchy Capital Ltd lifted its holdings in Intrepid Potash by 0.6% in the 4th quarter. Glenorchy Capital Ltd now owns 59,032 shares of the basic materials company’s stock valued at $1,637,000 after acquiring an additional 355 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Intrepid Potash by 197.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 544 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Intrepid Potash by 80.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 607 shares in the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.