Intrepid Potash (NYSE:IPI) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Intrepid Potash (NYSE:IPI) from a hold rating to a sell rating in a report issued on Thursday morning.

Separately, UBS Group decreased their target price on 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 Stock Down 0.6 %

IPI stock opened at $30.07 on Thursday. The stock has a market capitalization of $397.73 million, a PE ratio of -8.98 and a beta of 2.18. Intrepid Potash has a 52 week low of $18.83 and a 52 week high of $31.29. The firm has a 50 day moving average of $26.71 and a 200 day moving average of $25.46.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The company had revenue of $55.80 million for the quarter, compared to analyst estimates of $50.35 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same quarter in the previous year, the firm posted ($0.41) earnings per share. On average, equities research analysts expect that Intrepid Potash will post -0.17 earnings per share for the current year.

Insider Activity at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 15,476 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.58, for a total value of $473,256.08. Following the sale, the insider now owns 1,123,230 shares in the company, valued at approximately $34,348,373.40. This represents a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 218,821 shares of company stock worth $5,893,545 over the last three months. Company insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors have recently made changes to their positions in the company. R Squared Ltd purchased a new position in Intrepid Potash in the fourth quarter valued at $38,000. State of Wyoming acquired a new stake in shares of Intrepid Potash during the 4th quarter valued at about $46,000. BNP Paribas Financial Markets purchased a new position in shares of Intrepid Potash in the 4th quarter valued at about $87,000. Aquatic Capital Management LLC raised its holdings in Intrepid Potash by 274.3% in the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 4,114 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Intrepid Potash by 14.0% in the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock valued at $148,000 after buying an additional 830 shares in 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.