Intrepid Potash (NYSE:IPI) Stock Rating Upgraded by StockNews.com

Intrepid Potash (NYSE:IPI - Get Free Report) was upgraded by StockNews.com to a "sell" rating in a note issued to investors on Friday.

Separately, BMO Capital Markets lifted their price objective on shares of Intrepid Potash from $21.00 to $23.00 and gave the company a "market perform" rating in a report on Friday.

Intrepid Potash Stock Up 0.2 %

IPI traded up $0.06 during midday trading on Friday, hitting $24.65. The company had a trading volume of 196,497 shares, compared to its average volume of 90,160. The company has a market capitalization of $326.86 million, a price-to-earnings ratio of -8.84 and a beta of 2.17. The stock's 50 day moving average price is $20.40 and its 200 day moving average price is $20.44. Intrepid Potash has a 52 week low of $17.23 and a 52 week high of $28.30.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.20). The business had revenue of $49.04 million for the quarter, compared to analyst estimates of $41.63 million. Intrepid Potash had a negative net margin of 12.78% and a negative return on equity of 0.43%. Research analysts predict that Intrepid Potash will post -0.07 EPS for the current year.

Insider Buying and Selling

In related news, CEO Robert P. Jornayvaz III sold 16,278 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $19.55, for a total transaction of $318,234.90. Following the transaction, the chief executive officer now directly owns 1,490,436 shares in the company, valued at $29,138,023.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Intrepid Potash news, CEO Robert P. Jornayvaz III sold 11,000 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $20.22, for a total value of $222,420.00. Following the transaction, the chief executive officer now directly owns 1,531,551 shares in the company, valued at $30,967,961.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Jornayvaz III sold 16,278 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $19.55, for a total transaction of $318,234.90. Following the completion of the transaction, the chief executive officer now owns 1,490,436 shares in the company, valued at $29,138,023.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,034 shares of company stock worth $1,939,525. 18.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WealthTrust Axiom LLC boosted its stake in Intrepid Potash by 5.0% in the third quarter. WealthTrust Axiom LLC now owns 10,500 shares of the basic materials company's stock valued at $264,000 after acquiring an additional 500 shares during the last quarter. Swiss National Bank raised its position in shares of Intrepid Potash by 5.6% in the third quarter. Swiss National Bank now owns 24,600 shares of the basic materials company's stock valued at $619,000 after purchasing an additional 1,300 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Intrepid Potash by 77.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 1,432 shares during the period. Empowered Funds LLC raised its position in shares of Intrepid Potash by 7.7% in the first quarter. Empowered Funds LLC now owns 31,732 shares of the basic materials company's stock valued at $662,000 after purchasing an additional 2,275 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Intrepid Potash by 28.3% in the fourth quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company's stock valued at $310,000 after purchasing an additional 2,864 shares during the period. 56.13% of the stock is currently 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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