Intrepid Potash (NYSE:IPI) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Price breakout: IPI's stock moved above its 200-day moving average of $32.42, trading as high as $38.83 and last at $37.48 on Tuesday with volume of 127,471 shares.
• Analyst sentiment remains negative: The consensus rating is "Sell" with a $25.00 price target (one Hold, two Sell), including a reissued "sell (d-)" from Weiss and a $25 target from UBS.
• Earnings beat but high valuation: Intrepid reported Q EPS of $0.49 vs. $0.26 expected and revenue of $75.88M vs. $65.25M, yet the stock trades at a PE of 44.1 and a market cap of ~$503M.

Intrepid Potash, Inc (NYSE:IPI - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $32.42 and traded as high as $38.83. Intrepid Potash shares last traded at $37.4820, with a volume of 127,471 shares changing hands.

Analysts Set New Price Targets

IPI has been the topic of several research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Intrepid Potash in a research report on Thursday, January 22nd. UBS Group raised their price objective on Intrepid Potash from $24.00 to $25.00 and gave the company a "sell" rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Sell" and a consensus price target of $25.00.

Intrepid Potash Price Performance

The stock has a market cap of $503.38 million, a PE ratio of 44.10 and a beta of 1.39. The business has a fifty day moving average of $39.25 and a 200 day moving average of $32.42.

Intrepid Potash (NYSE:IPI - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The basic materials company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.23. The firm had revenue of $75.88 million during the quarter, compared to analyst estimates of $65.25 million. Intrepid Potash had a return on equity of 3.93% and a net margin of 3.75%. On average, equities research analysts expect that Intrepid Potash, Inc will post 1.14 EPS for the current year.

Institutional Trading of Intrepid Potash

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Intrepid Potash by 197.8% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company's stock valued at $29,000 after buying an additional 544 shares during the last quarter. Signaturefd LLC increased its holdings in Intrepid Potash by 668.1% in the fourth quarter. Signaturefd LLC now owns 914 shares of the basic materials company's stock valued at $25,000 after buying an additional 795 shares during the last quarter. Federated Hermes Inc. increased its holdings in Intrepid Potash by 354.7% in the third quarter. Federated Hermes Inc. now owns 1,355 shares of the basic materials company's stock valued at $41,000 after buying an additional 1,057 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Intrepid Potash by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company's stock valued at $49,000 after buying an additional 607 shares during the last quarter. Finally, State of Wyoming bought a new stake in Intrepid Potash in the second quarter valued at about $54,000. 56.13% of the stock is owned by institutional investors.

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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