Intrepid Potash (NYSE:IPI) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Intrepid Potash from a "strong-buy" to a "hold" rating, reflecting a shift in analyst sentiment towards the stock.
• Intrepid Potash has an average rating of "sell" with a consensus price target of $23.00, indicating bearish outlook among analysts.
• The company reported earnings that exceeded expectations, with a EPS of $0.45 for the last quarter, compared to a consensus estimate of $0.17.

Intrepid Potash (NYSE:IPI - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

IPI has been the subject of several other reports. Wall Street Zen raised shares of Intrepid Potash from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. UBS Group lowered their price target on Intrepid Potash from $24.00 to $23.00 and set a "sell" rating on the stock in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intrepid Potash in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Sell" and a consensus price target of $23.00.

Intrepid Potash Trading Down 1.3%

IPI stock opened at $27.57 on Monday. Intrepid Potash has a 12-month low of $20.86 and a 12-month high of $39.01. The stock's 50 day simple moving average is $29.06 and its 200 day simple moving average is $32.38. The stock has a market capitalization of $367.23 million, a PE ratio of -1.77 and a beta of 1.79.

Intrepid Potash (NYSE:IPI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.17 by $0.28. Intrepid Potash had a positive return on equity of 1.48% and a negative net margin of 71.13%.The company had revenue of $71.47 million for the quarter, compared to analysts' expectations of $56.14 million. On average, research analysts predict that Intrepid Potash will post -0.17 earnings per share for the current year.

Institutional Trading of Intrepid Potash

Hedge funds and other institutional investors have recently modified their holdings of the company. Azarias Capital Management L.P. lifted its stake in shares of Intrepid Potash by 64.9% during the 3rd quarter. Azarias Capital Management L.P. now owns 259,788 shares of the basic materials company's stock valued at $7,944,000 after buying an additional 102,266 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Intrepid Potash by 266.3% in the 2nd quarter. Squarepoint Ops LLC now owns 56,389 shares of the basic materials company's stock worth $2,015,000 after purchasing an additional 40,994 shares during the period. State of Wyoming purchased a new stake in Intrepid Potash during the 2nd quarter valued at approximately $54,000. Tower Research Capital LLC TRC grew its holdings in Intrepid Potash by 80.6% during the 2nd 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 in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Intrepid Potash by 258.5% in the second quarter. BNP Paribas Financial Markets now owns 48,537 shares of the basic materials company's stock worth $1,734,000 after buying an additional 34,998 shares in the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

About Intrepid Potash

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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