Deutsche Bank AG Acquires Shares of 25,943 Intrepid Potash, Inc $IPI

Key Points

• Deutsche Bank acquired 25,943 shares of Intrepid Potash in the second quarter, valued at about $850,000, giving it a 0.19% stake. Institutional investors collectively own 56.13% of the company.
• Intrepid Potash reported quarterly EPS of $0.56, missing the $0.78 consensus estimate, while revenue of $66.69 million exceeded expectations. Analysts project full-year EPS of $1.86.
• IPI opened at $38.61, above the analyst consensus price target of $29.00. Analyst sentiment remains broadly cautious, with an overall “Hold” rating alongside one Strong Buy and one Sell recommendation.

Deutsche Bank AG bought a new stake in shares of Intrepid Potash, Inc (NYSE:IPI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,943 shares of the basic materials company's stock, valued at approximately $850,000. Deutsche Bank AG owned about 0.19% of Intrepid Potash at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Intrepid Potash by 197.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company's stock worth $29,000 after acquiring an additional 544 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Intrepid Potash in the first quarter valued at approximately $37,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Intrepid Potash during the 4th quarter valued at approximately $44,000. Tower Research Capital LLC TRC lifted its stake in shares of Intrepid Potash by 80.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company's stock valued at $49,000 after buying an additional 607 shares in the last quarter. Finally, State of Wyoming bought a new position in Intrepid Potash in the 2nd quarter worth approximately $54,000. 56.13% of the stock is currently owned by institutional investors.

Intrepid Potash Stock Performance

Intrepid Potash stock opened at $38.61 on Tuesday. The firm's fifty day moving average price is $35.28 and its 200-day moving average price is $37.41. The stock has a market cap of $519.69 million, a P/E ratio of 19.50 and a beta of 1.24. Intrepid Potash, Inc has a fifty-two week low of $22.55 and a fifty-two week high of $50.34.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.22). The firm had revenue of $66.69 million for the quarter, compared to the consensus estimate of $64.86 million. Intrepid Potash had a return on equity of 4.74% and a net margin of 8.94%. On average, analysts predict that Intrepid Potash, Inc will post 1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

IPI has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Intrepid Potash in a report on Wednesday, August 19th. UBS Group boosted their price objective on Intrepid Potash from $26.00 to $29.00 and gave the company a "sell" rating in a research note on Wednesday, August 12th. Zacks Research raised Intrepid Potash from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Finally, Freedom Capital upgraded Intrepid Potash to a "strong-buy" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $29.00.

Intrepid Potash Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.