Intrepid Potash (NYSE:IPI) Price Target Raised to $19.00

Intrepid Potash (NYSE:IPI - Get Free Report) had its price objective upped by equities research analysts at UBS Group from $18.00 to $19.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a "sell" rating on the basic materials company's stock. UBS Group's price objective suggests a potential downside of 33.91% from the stock's previous close.

Intrepid Potash Price Performance

Shares of IPI stock traded up $2.03 during midday trading on Tuesday, reaching $28.75. 283,096 shares of the company traded hands, compared to its average volume of 89,497. The firm has a market cap of $381.80 million, a PE ratio of -7.63 and a beta of 2.18. The firm's 50 day simple moving average is $24.20 and its two-hundred day simple moving average is $23.91. Intrepid Potash has a 1-year low of $17.52 and a 1-year high of $29.22.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 2.02% and a negative net margin of 19.19%. The firm had revenue of $57.55 million for the quarter, compared to analysts' expectations of $42.57 million. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. As a group, research analysts anticipate that Intrepid Potash will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Intrepid Potash during the third quarter worth $142,000. Marquette Asset Management LLC purchased a new stake in shares of Intrepid Potash during the first quarter worth about $144,000. Squarepoint Ops LLC purchased a new stake in Intrepid Potash in the 2nd quarter worth approximately $303,000. Rhumbline Advisers increased its stake in Intrepid Potash by 5.0% in the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company's stock valued at $422,000 after purchasing an additional 861 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Intrepid Potash by 7.7% during the first quarter. Empowered Funds LLC now owns 31,732 shares of the basic materials company's stock worth $662,000 after buying an additional 2,275 shares during the period. 56.13% of the stock is currently owned by institutional investors and hedge funds.

About Intrepid Potash

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.