Intrepid Potash, Inc (NYSE:IPI) Stock Has Consensus Price Target of $35.00

Intrepid Potash, Inc (NYSE:IPI) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $36.67.

A number of brokerages have commented on IPI. Susquehanna set a $40.00 price target on shares of Intrepid Potash in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Intrepid Potash in a report on Wednesday, August 19th. Freedom Broker lowered their price objective on shares of Intrepid Potash from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, November 2nd. UBS Group reaffirmed a “buy” rating on shares of Intrepid Potash in a research note on Monday, November 2nd. Finally, Freedom Capital raised shares of Intrepid Potash to a “strong-buy” rating in a report on Friday, July 24th.

Institutional Trading of Intrepid Potash

Several institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd boosted its stake in shares of Intrepid Potash by 4,305.0% during the 3rd quarter. Covestor Ltd now owns 881 shares of the potash and fertilizer producer’s stock valued at $29,000 after purchasing an additional 861 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Intrepid Potash during the first quarter valued at about $37,000. Quantbot Technologies LP bought a new position in Intrepid Potash in the second quarter worth about $41,000. Legal & General Group Plc bought a new position in Intrepid Potash in the second quarter worth about $74,000. Finally, Marquette Asset Management LLC bought a new position in Intrepid Potash in the second quarter worth about $212,000. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Intrepid Potash Trading Down 0.1%

Shares of Intrepid Potash stock opened at $32.86 on Monday. The firm has a market capitalization of $439.13 million, a PE ratio of 17.96 and a beta of 1.06. Intrepid Potash has a 12 month low of $23.86 and a 12 month high of $50.34. The business’s 50-day moving average price is $34.75 and its 200-day moving average price is $36.47.

Intrepid Potash (NYSE:IPI) last released its earnings results on Tuesday, November 3rd. The potash and fertilizer producer reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.09). The firm had revenue of $51.03 million during the quarter, compared to the consensus estimate of $50.41 million. Intrepid Potash had a return on equity of 4.74% and a net margin of 8.31%. As a group, analysts predict that Intrepid Potash will post 1.77 earnings per share for the current fiscal year.

About Intrepid Potash

Intrepid Potash, Inc is a U.S.-based mineral producer specializing in potash and specialty fertilizers.