UBS Group Issues Positive Forecast for Intrepid Potash (NYSE:IPI) Stock Price

Intrepid Potash (NYSE:IPI - Free Report) had its target price hoisted by UBS Group from $21.00 to $24.00 in a research report report published on Wednesday,Benzinga reports. UBS Group currently has a sell rating on the basic materials company's stock.

Separately, Wall Street Zen upgraded Intrepid Potash from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th.

Intrepid Potash Stock Performance

IPI stock traded down $0.83 during trading on Wednesday, hitting $35.94. 84,990 shares of the company's stock traded hands, compared to its average volume of 144,638. Intrepid Potash has a 52 week low of $20.75 and a 52 week high of $39.01. The stock has a market capitalization of $478.55 million, a price-to-earnings ratio of -2.26 and a beta of 1.72. The business has a fifty day simple moving average of $36.22 and a 200 day simple moving average of $31.11.

Intrepid Potash (NYSE:IPI - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The basic materials company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.51. Intrepid Potash had a negative net margin of 75.09% and a positive return on equity of 0.31%. The firm had revenue of $97.76 million during the quarter, compared to the consensus estimate of $72.34 million. Research analysts forecast that Intrepid Potash will post -0.17 earnings per share for the current fiscal year.

Insider Activity at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 59,701 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $37.66, for a total value of $2,248,339.66. Following the sale, the insider directly owned 1,044,162 shares of the company's stock, valued at $39,323,140.92. This represents a 5.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 135,806 shares of company stock worth $4,922,413. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. New York State Teachers Retirement System purchased a new stake in shares of Intrepid Potash in the first quarter worth approximately $29,000. State of Wyoming bought a new position in Intrepid Potash in the 4th quarter valued at $46,000. BNP Paribas Financial Markets purchased a new stake in Intrepid Potash in the fourth quarter worth $87,000. FNY Investment Advisers LLC bought a new stake in shares of Intrepid Potash during the first quarter worth $102,000. Finally, Aquatic Capital Management LLC boosted its stake in shares of Intrepid Potash by 274.3% during the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company's stock valued at $123,000 after purchasing an additional 4,114 shares during the period. Hedge funds and other institutional investors own 56.13% of the company's stock.

Intrepid Potash Company Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.