Intrepid Potash (NYSE:IPI) Hits New 12-Month High - Time to Buy?

Shares of Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $39.01 and last traded at $38.97, with a volume of 192223 shares trading hands. The stock had previously closed at $36.63.

Analyst Ratings Changes

A number of research analysts recently commented on IPI shares. Wall Street Zen raised Intrepid Potash from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. UBS Group dropped their price target on Intrepid Potash from $20.00 to $19.00 and set a "sell" rating for the company in a research note on Wednesday, April 16th.

Intrepid Potash Stock Up 1.6%

The firm has a market cap of $502.58 million, a price-to-earnings ratio of -11.27 and a beta of 1.80. The stock has a 50 day moving average of $32.39 and a 200 day moving average of $28.04.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its earnings results on Monday, May 5th. The basic materials company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.51. The firm had revenue of $97.76 million during the quarter, compared to analysts' expectations of $72.34 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. As a group, analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 59,701 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $37.66, for a total value of $2,248,339.66. Following the completion of the transaction, the insider now owns 1,044,162 shares of the company's stock, valued at $39,323,140.92. This represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 180,765 shares of company stock valued at $5,858,599. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Eagle Investment Management LLC increased its stake in shares of Intrepid Potash by 4.5% in the fourth quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company's stock valued at $14,423,000 after buying an additional 28,500 shares during the period. Azarias Capital Management L.P. increased its position in Intrepid Potash by 7.4% during the 4th quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company's stock valued at $14,412,000 after purchasing an additional 45,446 shares during the period. Invenomic Capital Management LP acquired a new stake in Intrepid Potash during the 1st quarter valued at approximately $10,210,000. Geode Capital Management LLC increased its position in Intrepid Potash by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 234,908 shares of the basic materials company's stock valued at $5,151,000 after purchasing an additional 3,314 shares during the period. Finally, Goehring & Rozencwajg Associates LLC increased its position in Intrepid Potash by 2.2% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 213,977 shares of the basic materials company's stock valued at $6,205,000 after purchasing an additional 4,615 shares during the period. Institutional investors and hedge funds 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.