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

Intrepid Potash (NYSE:IPI) had its target price hoisted by equities researchers at UBS Group from $19.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the basic materials company’s stock. UBS Group’s price objective suggests a potential downside of 20.76% from the stock’s previous close.

Separately, StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Intrepid Potash Price Performance

Shares of NYSE:IPI opened at $26.50 on Tuesday. Intrepid Potash has a 1 year low of $17.52 and a 1 year high of $29.75. The company’s 50 day simple moving average is $25.04 and its 200 day simple moving average is $24.65. The stock has a market capitalization of $348.77 million, a price-to-earnings ratio of -7.96 and a beta of 2.23.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The firm had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same quarter last year, the firm posted ($0.53) EPS. As a group, analysts anticipate that Intrepid Potash will post -0.17 EPS for the current fiscal year.

Insider Activity at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 3,557 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $25.00, for a total transaction of $88,925.00. Following the sale, the insider now directly owns 129,230 shares in the company, valued at $3,230,750. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 431,264 shares of company stock worth $11,004,385. Company insiders own 18.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Intrepid Potash by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock worth $17,281,000 after buying an additional 26,696 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Intrepid Potash in the second quarter worth approximately $979,000. Squarepoint Ops LLC purchased a new stake in Intrepid Potash in the second quarter worth approximately $303,000. AQR Capital Management LLC boosted its stake in Intrepid Potash by 5.2% in the second quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock worth $1,086,000 after buying an additional 2,306 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Intrepid Potash during the third quarter valued at approximately $142,000. 56.13% of the stock is currently owned by 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.