Intrepid Potash (NYSE:IPI) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Intrepid Potash from “strong sell” to “hold.” Overall, analysts’ consensus rating is “Hold,” with an average price target of $26.00.
• Intrepid Potash shares opened at $36.97 and were reported down 2.1%; the stock has traded between $22.55 and $50.34 over the past year.
• The company reported quarterly EPS of $0.56, below the $0.78 analyst consensus, while revenue of $66.69 million exceeded estimates of $64.86 million. Institutional investors own 56.13% of the stock.

Intrepid Potash (NYSE:IPI - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

IPI has been the subject of a number of other research reports. Freedom Capital raised Intrepid Potash to a "strong-buy" rating in a report on Friday, July 24th. Weiss Ratings raised Intrepid Potash from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 22nd. Finally, UBS Group increased their target price on shares of Intrepid Potash from $25.00 to $26.00 and gave the stock a "sell" rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $26.00.

Intrepid Potash Trading Down 2.1%

Shares of NYSE:IPI opened at $36.97 on Monday. The firm has a 50 day moving average of $34.63 and a 200-day moving average of $37.04. Intrepid Potash has a 12 month low of $22.55 and a 12 month high of $50.34. The stock has a market capitalization of $497.55 million, a PE ratio of 18.67 and a beta of 1.24.

Intrepid Potash (NYSE:IPI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.22). Intrepid Potash had a net margin of 8.94% and a return on equity of 4.74%. The firm had revenue of $66.69 million during the quarter, compared to the consensus estimate of $64.86 million. On average, research analysts predict that Intrepid Potash will post 1.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

Several large investors have recently bought and sold shares of the company. Signaturefd LLC increased its stake in shares of 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 period. EverSource Wealth Advisors LLC raised its stake in shares of Intrepid Potash by 197.8% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 544 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Intrepid Potash in the first quarter worth approximately $37,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Intrepid Potash during the fourth quarter worth $44,000. Finally, 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 worth $49,000 after acquiring an additional 607 shares during the period. 56.13% of the stock is currently 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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