Intrepid Potash (NYSE:IPI) Stock Price Expected to Rise, UBS Group Analyst Says

Intrepid Potash (NYSE:IPI) had its price target boosted by UBS Group from $18.00 to $19.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “sell” rating on the basic materials company’s stock. UBS Group’s target price would suggest a potential downside of 29.33% from the company’s previous close.

Intrepid Potash Price Performance

NYSE IPI opened at $26.89 on Tuesday. The business’s 50-day moving average is $24.34 and its 200 day moving average is $24.00. The stock has a market capitalization of $357.03 million, a PE ratio of -8.03 and a beta of 2.18. Intrepid Potash has a 1 year low of $17.52 and a 1 year high of $29.75.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The business had revenue of $57.55 million for the quarter, compared to analysts’ expectations of $42.57 million. During the same period last year, the firm posted ($0.53) earnings per share. As a group, equities research analysts anticipate that Intrepid Potash will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On Intrepid Potash

A number of large investors have recently modified their holdings of IPI. Acadian Asset Management LLC lifted its holdings in Intrepid Potash by 517.6% in the first quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company’s stock worth $1,211,000 after buying an additional 48,715 shares during the period. First Eagle Investment Management LLC raised its position in shares of Intrepid Potash by 19.4% in the 1st quarter. First Eagle Investment Management LLC now owns 481,670 shares of the basic materials company’s stock worth $10,048,000 after acquiring an additional 78,200 shares in the last quarter. Glenorchy Capital Ltd lifted its stake in shares of Intrepid Potash by 95.7% in the 3rd quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock valued at $1,493,000 after purchasing an additional 30,425 shares during the period. Pinnacle Associates Ltd. purchased a new position in shares of Intrepid Potash in the 3rd quarter valued at approximately $3,100,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Intrepid Potash during the second quarter valued at approximately $979,000. Institutional investors own 56.13% of the company’s stock.

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.