UBS Group Issues Pessimistic Forecast for Intrepid Potash (NYSE:IPI) Stock Price

Intrepid Potash (NYSE:IPI) had its target price decreased by equities researchers at UBS Group from $21.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “sell” rating on the basic materials company’s stock. UBS Group’s target price indicates a potential downside of 22.68% from the company’s current price.

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

Intrepid Potash Trading Up 7.2 %

IPI opened at $25.87 on Tuesday. Intrepid Potash has a 1-year low of $18.32 and a 1-year high of $29.75. The company has a market cap of $342.12 million, a price-to-earnings ratio of -7.72 and a beta of 2.18. The company’s fifty day moving average price is $25.15 and its two-hundred day moving average price is $24.97.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $55.80 million during the quarter, compared to the consensus estimate of $50.35 million. During the same quarter in the previous year, the company earned ($0.41) EPS. As a group, equities analysts forecast that Intrepid Potash will post -0.17 earnings per share for the current fiscal year.

Insider Activity at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 14,736 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $25.67, for a total transaction of $378,273.12. Following the sale, the insider now directly owns 1,212,823 shares of the company’s stock, valued at $31,133,166.41. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 341,412 shares of company stock worth $8,725,988. 18.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intrepid Potash

A number of institutional investors and hedge funds have recently modified their holdings of IPI. Empowered Funds LLC lifted its holdings in shares of Intrepid Potash by 5.2% in the third quarter. Empowered Funds LLC now owns 53,773 shares of the basic materials company’s stock worth $1,291,000 after buying an additional 2,680 shares in the last quarter. Quest Partners LLC lifted its holdings 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 worth $228,000 after buying an additional 9,448 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Intrepid Potash in the third quarter worth about $602,000. State Street Corp lifted its holdings in shares of Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after buying an additional 1,402 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after buying an additional 10,599 shares in the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

About Intrepid Potash

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.