Intrepid Potash (NYSE:IPI) Announces Quarterly Earnings Results

Key Points

• Intrepid Potash reported Q1 EPS of $0.62, beating analysts' consensus of $0.48 and posting revenue of $98.69 million versus expected $88.30 million, with a return on equity of 3.93% and net margin of 3.75%.
• Despite the beat, shares fell $2.35 to $37.76 on the day; the stock has a market cap of $507.06 million, a P/E of 44.42, and a 1‑year trading range of $22.55–$50.34.
• Brokerages maintain a consensus "Sell" rating with a $25 price target, while institutional investors own about 56.13% of the company.

Intrepid Potash (NYSE:IPI - Get Free Report) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.14, FiscalAI reports. Intrepid Potash had a return on equity of 3.93% and a net margin of 3.75%.The firm had revenue of $98.69 million for the quarter, compared to analysts' expectations of $88.30 million.

Intrepid Potash Price Performance

Shares of NYSE:IPI traded down $2.35 on Wednesday, hitting $37.76. The company's stock had a trading volume of 226,178 shares, compared to its average volume of 265,679. The company has a 50-day simple moving average of $39.72 and a 200 day simple moving average of $32.73. Intrepid Potash has a 1 year low of $22.55 and a 1 year high of $50.34. The company has a market capitalization of $507.06 million, a PE ratio of 44.42 and a beta of 1.25.

Institutional Trading of Intrepid Potash

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Intrepid Potash by 5.0% in 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Intrepid Potash by 197.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 544 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Intrepid Potash by 80.6% in 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 acquiring an additional 607 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Intrepid Potash by 2.9% in the 4th quarter. Deutsche Bank AG now owns 23,478 shares of the basic materials company's stock valued at $651,000 after acquiring an additional 668 shares in the last quarter. Finally, Summit Global Investments increased its position in shares of Intrepid Potash by 5.0% during the 4th quarter. Summit Global Investments now owns 15,574 shares of the basic materials company's stock valued at $432,000 after purchasing an additional 748 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IPI. UBS Group increased their price objective on Intrepid Potash from $24.00 to $25.00 and gave the stock a "sell" rating in a report on Thursday, March 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Intrepid Potash in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Intrepid Potash presently has a consensus rating of "Sell" and a consensus price target of $25.00.

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.

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