Weiss Ratings Reaffirms Sell (D-) Rating for Intrepid Potash (NYSE:IPI)

Intrepid Potash (NYSE:IPI - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently commented on IPI. Wall Street Zen raised shares of Intrepid Potash from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. UBS Group cut their price objective on Intrepid Potash from $24.00 to $23.00 and set a "sell" rating on the stock in a research report on Thursday, August 7th. Finally, Zacks Research upgraded Intrepid Potash from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Intrepid Potash has an average rating of "Hold" and a consensus target price of $23.00.

Intrepid Potash Stock Performance

Shares of IPI stock opened at $29.58 on Wednesday. Intrepid Potash has a 52-week low of $20.86 and a 52-week high of $39.01. The company has a market capitalization of $394.01 million, a PE ratio of -1.90 and a beta of 1.79. The business's fifty day moving average is $29.61 and its 200 day moving average is $32.45.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $71.47 million during the quarter, compared to analysts' expectations of $56.14 million. On average, sell-side analysts forecast that Intrepid Potash will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 53,035 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $34.30, for a total value of $1,819,100.50. Following the sale, the insider owned 3,950 shares in the company, valued at approximately $135,485. The trade was a 93.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Intrepid Potash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in shares of Intrepid Potash during the first quarter worth $29,000. Assenagon Asset Management S.A. purchased a new position in Intrepid Potash in the 1st quarter worth about $211,000. Cubist Systematic Strategies LLC purchased a new position in Intrepid Potash in the 1st quarter worth about $697,000. Bank of America Corp DE increased its stake in Intrepid Potash by 26.2% in the 4th quarter. Bank of America Corp DE now owns 19,978 shares of the basic materials company's stock worth $438,000 after buying an additional 4,146 shares during the period. Finally, Invenomic Capital Management LP purchased a new position in Intrepid Potash in the 1st quarter worth about $10,210,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.