Intrepid Potash, Inc (NYSE:IPI) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Intrepid Potash has a “Moderate Buy” consensus rating from five analysts, with two buy ratings, one strong-buy, and two holds. The average 12-month price target is $35.
• Institutional investors increased exposure, with BlackRock and several other firms initiating positions; institutions and hedge funds collectively own 56.13% of the stock.
• Shares traded at $30.99, below their 50-day and 200-day moving averages. The company reported quarterly EPS of $0.56, missing the $0.78 consensus estimate, while revenue of $66.69 million exceeded expectations.

Shares of Intrepid Potash, Inc (NYSE:IPI - Get Free Report) have been given an average rating of "Moderate Buy" by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $35.00.

A number of analysts recently commented on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Intrepid Potash in a report on Wednesday, August 19th. Freedom Capital upgraded shares of Intrepid Potash to a "strong-buy" rating in a report on Friday, July 24th. Freedom Broker decreased their price target on shares of Intrepid Potash from $44.00 to $41.00 and set a "buy" rating on the stock in a research report on Monday. Zacks Research cut Intrepid Potash from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 7th. Finally, UBS Group reaffirmed a "buy" rating on shares of Intrepid Potash in a report on Monday.

Institutional Investors Weigh In On Intrepid Potash

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Intrepid Potash during the second quarter valued at $37,879,000. Empowered Funds LLC purchased a new position in Intrepid Potash in the 2nd quarter worth about $2,668,000. PDT Partners LLC purchased a new position in Intrepid Potash in the 2nd quarter worth about $2,031,000. Janney Montgomery Scott LLC purchased a new position in Intrepid Potash in the 1st quarter worth about $2,484,000. Finally, Bank of New York Mellon Corp acquired a new stake in Intrepid Potash during the 2nd quarter worth about $1,787,000. 56.13% of the stock is owned by institutional investors and hedge funds.

Intrepid Potash Stock Performance

Shares of IPI stock traded down $0.59 during mid-day trading on Monday, hitting $30.99. 139,520 shares of the stock traded hands, compared to its average volume of 247,796. Intrepid Potash has a twelve month low of $22.55 and a twelve month high of $50.34. The company's 50-day simple moving average is $35.40 and its 200-day simple moving average is $36.51. The firm has a market cap of $417.07 million, a price-to-earnings ratio of 15.65 and a beta of 1.31.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The potash and fertilizer producer reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.22). Intrepid Potash had a net margin of 8.94% and a return on equity of 4.74%. The business had revenue of $66.69 million during the quarter, compared to analyst estimates of $64.86 million. Analysts forecast that Intrepid Potash will post 1.77 earnings per share for the current year.

About Intrepid Potash

Intrepid Potash, Inc is a U.S.-based mineral producer specializing in potash and specialty fertilizers.

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