Intrepid Potash (NYSE:IPI) Rating Lowered to Sell at StockNews.com

Intrepid Potash (NYSE:IPI) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Separately, UBS Group reduced their price target on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating on the stock in a research report on Tuesday, March 4th.

Intrepid Potash Price Performance

Shares of Intrepid Potash stock opened at $29.39 on Thursday. The company has a 50 day simple moving average of $26.76 and a two-hundred day simple moving average of $25.51. The firm has a market cap of $388.67 million, a PE ratio of -8.77 and a beta of 2.18. Intrepid Potash has a 1 year low of $18.83 and a 1 year high of $31.29.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The firm had revenue of $55.80 million during the quarter, compared to the consensus estimate of $50.35 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same quarter in the previous year, the firm earned ($0.41) EPS. As a group, research analysts anticipate that Intrepid Potash will post -0.17 earnings per share for the current year.

Insider Activity at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 14,736 shares of the business’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 transaction, the insider now owns 1,212,823 shares in the company, valued at $31,133,166.41. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 227,805 shares of company stock worth $6,168,096 over the last quarter. 18.00% of the stock is owned by corporate insiders.

Institutional Trading of Intrepid Potash

Several large investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of Intrepid Potash in the 4th quarter valued at approximately $1,007,000. Two Sigma Investments LP grew its position in 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 worth $1,665,000 after purchasing an additional 10,894 shares during the period. State of Wyoming bought a new stake in shares of Intrepid Potash in the fourth quarter worth $46,000. Lazard Asset Management LLC purchased a new stake in shares of Intrepid Potash during the 4th quarter valued at about $153,000. Finally, Glenorchy Capital Ltd grew its position in shares of Intrepid Potash by 1.1% during the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock valued at $1,379,000 after acquiring an additional 714 shares during the period. 56.13% of the stock is owned by 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.