Intrepid Potash (NYSE:IPI) Reaches New 52-Week High - Should You Buy?

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $38.87 and last traded at $37.92, with a volume of 25432 shares. The stock had previously closed at $38.10.

Analysts Set New Price Targets

IPI has been the subject of a number of recent research reports. UBS Group decreased their price objective on shares of Intrepid Potash from $20.00 to $19.00 and set a "sell" rating for the company in a report on Wednesday, April 16th. StockNews.com upgraded shares of Intrepid Potash from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th.

Intrepid Potash Stock Performance

The firm has a market capitalization of $484.67 million, a price-to-earnings ratio of -10.90 and a beta of 1.80. The company has a 50-day moving average of $29.63 and a 200-day moving average of $26.98.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its earnings results on Monday, May 5th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.51. The business had revenue of $97.76 million during the quarter, compared to the consensus estimate 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 anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 14,736 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.67, for a total value of $378,273.12. Following the completion of the transaction, the insider now owns 1,212,823 shares of the company's stock, valued at $31,133,166.41. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 229,872 shares of company stock valued at $6,866,175 in the last three months. Corporate insiders own 18.00% of the company's stock.

Institutional Trading of Intrepid Potash

Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in Intrepid Potash by 577.1% during the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock worth $3,336,000 after purchasing an additional 129,722 shares during the last quarter. Royce & Associates LP acquired a new position in Intrepid Potash in the first quarter valued at approximately $2,204,000. Renaissance Technologies LLC grew its position in shares of Intrepid Potash by 110.1% during the 4th quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company's stock worth $2,452,000 after buying an additional 58,630 shares during the period. Peapod Lane Capital LLC bought a new stake in shares of Intrepid Potash in the 4th quarter valued at $1,269,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Intrepid Potash by 191.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 73,166 shares of the basic materials company's stock valued at $1,604,000 after purchasing an additional 48,068 shares during the period. 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.

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