Intrepid Potash (NYSE:IPI) Hits New 52-Week High - Here's Why

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

Wall Street Analyst Weigh In

IPI has been the subject of several recent analyst reports. Wall Street Zen raised Intrepid Potash from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. UBS Group decreased their target price 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 6.4%

The company has a market cap of $518.91 million, a PE ratio of -11.63 and a beta of 1.80. The company has a 50-day moving average of $31.74 and a 200-day moving average of $27.76.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued 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. The firm had revenue of $97.76 million for the quarter, compared to analysts' expectations of $72.34 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. As a group, equities analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 8,984 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $30.56, for a total transaction of $274,551.04. Following the completion of the sale, the insider now owns 1,105,545 shares of the company's stock, valued at $33,785,455.20. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 180,689 shares of company stock valued at $5,855,784. Corporate insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Intrepid Potash

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in shares of Intrepid Potash by 577.1% in the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock worth $3,336,000 after buying an additional 129,722 shares during the last quarter. Azarias Capital Management L.P. grew its position in shares of Intrepid Potash by 7.4% in the 4th quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company's stock worth $14,412,000 after buying an additional 45,446 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Intrepid Potash in the 4th quarter worth approximately $1,028,000. First Eagle Investment Management LLC grew its position in shares of Intrepid Potash by 4.5% in the 4th quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company's stock worth $14,423,000 after buying an additional 28,500 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Intrepid Potash by 5.0% in the 4th quarter. Empowered Funds LLC now owns 56,486 shares of the basic materials company's stock worth $1,238,000 after buying an additional 2,713 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors.

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.

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