Intrepid Potash (IPI) Stock Rating Lowered by ValuEngine

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

Several other analysts have also weighed in on IPI. Zacks Investment Research raised Intrepid Potash from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a report on Wednesday, April 10th. TheStreet raised Intrepid Potash from a “c” rating to a “b-” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $5.08.

NYSE IPI traded up $0.03 during trading on Wednesday, hitting $3.63. The company’s stock had a trading volume of 12,815 shares, compared to its average volume of 507,973. The company has a quick ratio of 1.82, a current ratio of 4.18 and a debt-to-equity ratio of 0.12. The company has a market cap of $487.50 million, a P/E ratio of 40.33 and a beta of 1.14. Intrepid Potash has a 52 week low of $2.51 and a 52 week high of $5.31.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Tuesday, March 12th. The basic materials company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The company had revenue of $34.90 million for the quarter, compared to the consensus estimate of $36.19 million. Intrepid Potash had a return on equity of 3.00% and a net margin of 6.04%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) EPS. Sell-side analysts expect that Intrepid Potash will post 0.19 earnings per share for the current fiscal year.

In other Intrepid Potash news, CEO Robert P. Jornayvaz III acquired 13,900 shares of Intrepid Potash stock in a transaction on Friday, March 22nd. The shares were bought at an average price of $3.67 per share, with a total value of $51,013.00. Following the completion of the purchase, the chief executive officer now owns 1,206,650 shares in the company, valued at $4,428,405.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Clearway Capital Management Lt acquired 200,000 shares of Intrepid Potash stock in a transaction on Tuesday, February 12th. The stock was acquired at an average cost of $3.22 per share, for a total transaction of $644,000.00. The disclosure for this purchase can be found here. 27.80% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Investment Management of Virginia LLC acquired a new position in Intrepid Potash in the first quarter worth $84,000. SG Americas Securities LLC boosted its stake in Intrepid Potash by 275.1% in the first quarter. SG Americas Securities LLC now owns 48,851 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 35,829 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Intrepid Potash by 960.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,212 shares of the basic materials company’s stock worth $209,000 after purchasing an additional 50,007 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Intrepid Potash by 223.4% in the first quarter. BNP Paribas Arbitrage SA now owns 22,668 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 15,658 shares in the last quarter. Finally, Investors Research Corp acquired a new position in Intrepid Potash in the first quarter worth $25,000. 44.47% of the stock is currently owned by institutional investors.

Intrepid Potash Company Profile

Intrepid Potash, Inc produces and sells potash and langbeinite products 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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