Intrepid Potash, Inc (IPI) Stock Rating Lowered by UBS AG
Intrepid Potash, Inc (NYSE:IPI) was downgraded by stock analysts at UBS AG from a “neutral” rating to a “sell” rating in a research note issued on Monday.
Several other brokerages also recently commented on IPI. BMO Capital Markets boosted their price objective on Intrepid Potash from $2.00 to $3.00 and gave the company a “market perform” rating in a research report on Thursday. BidaskClub upgraded Intrepid Potash from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded Intrepid Potash from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 26th.
Intrepid Potash (NYSE:IPI) opened at 3.83 on Monday. Intrepid Potash has a 12 month low of $0.93 and a 12 month high of $3.90. The stock’s market cap is $484.63 million. The stock’s 50 day moving average price is $2.55 and its 200-day moving average price is $2.12.
Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. Intrepid Potash had a negative return on equity of 12.37% and a negative net margin of 30.56%. The business had revenue of $43.90 million during the quarter, compared to analyst estimates of $37.75 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Intrepid Potash’s revenue for the quarter was down 15.3% on a year-over-year basis. Analysts anticipate that Intrepid Potash will post ($0.28) EPS for the current fiscal year.
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In other news, SVP John G. Mansanti sold 12,669 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $2.24, for a total transaction of $28,378.56. Following the completion of the sale, the senior vice president now owns 48,483 shares in the company, valued at approximately $108,601.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Clearway Capital Management Lt acquired 215,707 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $2.98 per share, with a total value of $642,806.86. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,204,531 shares of company stock valued at $3,445,642. 27.20% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in shares of Intrepid Potash by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 568,163 shares of the basic materials company’s stock valued at $977,000 after buying an additional 7,793 shares in the last quarter. Royce & Associates LP raised its stake in shares of Intrepid Potash by 7.7% in the first quarter. Royce & Associates LP now owns 339,406 shares of the basic materials company’s stock valued at $584,000 after buying an additional 24,406 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Intrepid Potash by 30.6% in the first quarter. Parametric Portfolio Associates LLC now owns 126,394 shares of the basic materials company’s stock valued at $217,000 after buying an additional 29,646 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Intrepid Potash by 180.0% in the first quarter. Wellington Management Group LLP now owns 126,757 shares of the basic materials company’s stock valued at $218,000 after buying an additional 81,484 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Intrepid Potash by 10.9% in the first quarter. California Public Employees Retirement System now owns 974,500 shares of the basic materials company’s stock valued at $1,676,000 after buying an additional 96,100 shares in the last quarter. Hedge funds and other institutional investors own 42.41% of the company’s stock.
Intrepid Potash Company Profile
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.
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