Intrepid Potash (NYSE:IPI) Price Target Lowered to $20.00 at UBS Group

Intrepid Potash (NYSE:IPI - Free Report) had its price objective lowered by UBS Group from $21.00 to $20.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a sell rating on the basic materials company's stock.

Separately, StockNews.com upgraded Intrepid Potash from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th.

Intrepid Potash Stock Performance

IPI traded up $0.14 during trading on Tuesday, reaching $26.59. The company had a trading volume of 112,474 shares, compared to its average volume of 134,077. The firm's 50-day simple moving average is $25.30 and its 200 day simple moving average is $24.98. The company has a market cap of $351.71 million, a price-to-earnings ratio of -7.94 and a beta of 2.18. Intrepid Potash has a 12-month low of $18.32 and a 12-month high of $29.75.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $55.80 million during the quarter, compared to analyst estimates of $50.35 million. During the same period last year, the business earned ($0.41) EPS. On average, sell-side analysts expect that Intrepid Potash will post -0.17 EPS for the current year.

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Insider Buying and Selling

In related news, major shareholder Robert P. Jornayvaz III sold 192,573 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $25.08, for a total transaction of $4,829,730.84. Following the completion of the transaction, the insider now directly owns 178,860 shares in the company, valued at $4,485,808.80. This represents a 51.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 341,412 shares of company stock valued at $8,725,988. Company insiders own 18.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IPI. Empowered Funds LLC grew its stake in shares of Intrepid Potash by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 53,773 shares of the basic materials company's stock valued at $1,291,000 after purchasing an additional 2,680 shares during the period. Quest Partners LLC raised its stake in Intrepid Potash by 24,863.2% during the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company's stock worth $228,000 after acquiring an additional 9,448 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Intrepid Potash during the third quarter valued at $602,000. State Street Corp boosted its stake 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 purchasing an additional 1,402 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company's stock worth $344,000 after purchasing an additional 10,599 shares during the last quarter. 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.