Intrepid Potash (NYSE:IPI) Given New $19.00 Price Target at UBS Group

Intrepid Potash (NYSE:IPI - Get Free Report) had its price objective decreased by stock analysts at UBS Group from $20.00 to $19.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "sell" rating on the basic materials company's stock. UBS Group's price target points to a potential downside of 33.31% from the company's current price.

Separately, StockNews.com lowered shares of Intrepid Potash from a "hold" rating to a "sell" rating in a report on Thursday, March 27th.

Intrepid Potash Stock Performance

Shares of NYSE:IPI traded down $0.59 during trading on Wednesday, hitting $28.49. The company's stock had a trading volume of 46,769 shares, compared to its average volume of 160,925. The company has a market capitalization of $376.81 million, a PE ratio of -8.50 and a beta of 1.78. Intrepid Potash has a fifty-two week low of $19.34 and a fifty-two week high of $31.29. The business has a 50 day moving average price of $27.19 and a two-hundred day moving average price of $25.97.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.06). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The company had revenue of $55.80 million during the quarter, compared to analyst estimates of $50.35 million. During the same period in the prior year, the business earned ($0.41) EPS. As a group, equities analysts expect that Intrepid Potash will post -0.17 earnings per share for the current fiscal year.

Insider Transactions at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 5,600 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $27.35, for a total value of $153,160.00. Following the completion of the sale, the insider now directly owns 99,063 shares of the company's stock, valued at approximately $2,709,373.05. This represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 227,822 shares of company stock worth $6,168,606. 18.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC increased its position in Intrepid Potash by 4.5% in the 4th quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company's stock valued at $14,423,000 after acquiring an additional 28,500 shares during the period. Azarias Capital Management L.P. increased its holdings in shares of Intrepid Potash by 7.4% in the fourth quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company's stock valued at $14,412,000 after purchasing an additional 45,446 shares during the period. Geode Capital Management LLC grew its position in Intrepid Potash by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 234,908 shares of the basic materials company's stock valued at $5,151,000 after buying an additional 3,314 shares during the last quarter. State Street Corp increased its stake in Intrepid Potash by 0.6% in the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company's stock valued at $5,452,000 after buying an additional 1,402 shares during the period. Finally, Goehring & Rozencwajg Associates LLC raised its position in Intrepid Potash by 0.6% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company's stock worth $4,803,000 after buying an additional 1,272 shares during the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

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.