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

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

Separately, UBS Group cut their price target on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating on the stock in a research note on Tuesday, March 4th.

Intrepid Potash Trading Down 2.0 %

Shares of NYSE IPI opened at $29.39 on Thursday. The stock has a market capitalization of $388.67 million, a PE ratio of -8.77 and a beta of 2.18. Intrepid Potash has a twelve month low of $18.83 and a twelve month high of $31.29. The stock has a fifty day simple moving average of $26.76 and a 200-day simple moving average of $25.53.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The firm 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) EPS. On average, equities analysts predict that Intrepid Potash will post -0.17 earnings per share for the current year.

Insider Transactions at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 14,736 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $25.67, for a total transaction of $378,273.12. Following the transaction, the insider now owns 1,212,823 shares of the company’s stock, valued at $31,133,166.41. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 227,805 shares of company stock worth $6,168,096. Insiders own 18.00% of the company’s stock.

Institutional Trading of Intrepid Potash

A number of hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in shares of Intrepid Potash by 0.3% during the fourth quarter. American Century Companies Inc. now owns 185,844 shares of the basic materials company’s stock worth $4,074,000 after acquiring an additional 577 shares during the period. Glenorchy Capital Ltd boosted its holdings in Intrepid Potash by 1.1% in the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock valued at $1,379,000 after purchasing an additional 714 shares in the last quarter. SG Americas Securities LLC increased its position in Intrepid Potash by 14.0% during the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 830 shares during the period. Goehring & Rozencwajg Associates LLC raised its stake 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 worth $4,803,000 after buying an additional 1,272 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of 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. 56.13% of the stock is owned by institutional investors and hedge funds.

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.