Azarias Capital Management L.P. Buys 35,082 Shares of Intrepid Potash, Inc $IPI

Key Points

• Azarias Capital Management increased its stake in Intrepid Potash (NYSE:IPI) by 13.5%, buying 35,082 shares to own 294,870 shares (2.20% of the company) and making IPI its 8th-largest holding, about 3.6% of Azarias's portfolio.
• Analysts carry a consensus Sell rating with a $25 target (two Sells, one Hold); UBS raised its target to $25 and Weiss Ratings reaffirmed a "sell (d-)" call.
• Intrepid beat the most recent quarter with $0.49 EPS vs. $0.26 expected and $75.88M revenue vs. $65.25M expected, but the stock trades at a high PE (~43.9) and analysts forecast -0.17 EPS for the current year.

Azarias Capital Management L.P. increased its holdings in shares of Intrepid Potash, Inc (NYSE:IPI - Free Report) by 13.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 294,870 shares of the basic materials company's stock after acquiring an additional 35,082 shares during the period. Intrepid Potash makes up about 3.6% of Azarias Capital Management L.P.'s portfolio, making the stock its 8th largest holding. Azarias Capital Management L.P. owned 2.20% of Intrepid Potash worth $8,177,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Intrepid Potash by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company's stock valued at $193,000 after acquiring an additional 312 shares during the period. Empowered Funds LLC grew its position in shares of Intrepid Potash by 7.3% during the 1st quarter. Empowered Funds LLC now owns 60,623 shares of the basic materials company's stock valued at $1,782,000 after acquiring an additional 4,137 shares during the period. Legal & General Group Plc grew its position in shares of Intrepid Potash by 123.0% during the 2nd quarter. Legal & General Group Plc now owns 2,112 shares of the basic materials company's stock valued at $75,000 after acquiring an additional 1,165 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Intrepid Potash during the 2nd quarter valued at about $420,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Intrepid Potash during the 2nd quarter valued at about $3,441,000. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intrepid Potash in a research note on Thursday, January 22nd. UBS Group raised their price target on shares of Intrepid Potash from $24.00 to $25.00 and gave the company a "sell" rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Sell" and a consensus target price of $25.00.

Intrepid Potash Stock Performance

Intrepid Potash stock opened at $37.27 on Friday. Intrepid Potash, Inc has a fifty-two week low of $22.55 and a fifty-two week high of $50.34. The firm has a 50 day moving average price of $38.34 and a 200 day moving average price of $31.75. The company has a market capitalization of $499.83 million, a PE ratio of 43.85 and a beta of 1.39.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its quarterly 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 business had revenue of $75.88 million during the quarter, compared to the consensus estimate of $65.25 million. Intrepid Potash had a net margin of 3.75% and a return on equity of 3.93%. As a group, equities research analysts forecast that Intrepid Potash, Inc will post -0.17 earnings per share for the current year.

About Intrepid Potash

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.

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