StockNews.com Downgrades Intrepid Potash (NYSE:IPI) to Sell

Intrepid Potash (NYSE:IPI) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Separately, UBS Group reduced their target price on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a report on Tuesday, March 4th.

Intrepid Potash Trading Down 0.6 %

Shares of IPI traded down $0.17 during mid-day trading on Thursday, reaching $30.07. The company’s stock had a trading volume of 138,220 shares, compared to its average volume of 100,340. The stock has a market cap of $397.73 million, a P/E ratio of -8.98 and a beta of 2.18. Intrepid Potash has a 1-year low of $18.83 and a 1-year high of $31.29. The business has a 50-day simple moving average of $26.71 and a two-hundred day simple moving average of $25.46.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $55.80 million for the quarter, compared to analyst estimates of $50.35 million. During the same period in the prior year, the business earned ($0.41) EPS. Research analysts anticipate that Intrepid Potash will post -0.17 EPS for the current year.

Insider Activity at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 5,600 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $27.35, for a total transaction of $153,160.00. Following the transaction, the insider now directly owns 99,063 shares of the company’s stock, valued at approximately $2,709,373.05. This trade 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 is available through the SEC website. Insiders sold 218,821 shares of company stock worth $5,893,545 in the last ninety days. 18.00% of the stock is owned by company insiders.

Institutional Trading of Intrepid Potash

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

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.