Intrepid Potash (NYSE:IPI) Downgraded to Sell Rating by StockNews.com

Intrepid Potash (NYSE:IPI - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Thursday.

Separately, UBS Group decreased their target price on shares of Intrepid Potash from $21.00 to $20.00 and set a "sell" rating for the company in a research note on Tuesday, March 4th.

Intrepid Potash Price Performance

NYSE:IPI traded down $0.17 on Thursday, hitting $29.24. 162,900 shares of the company's stock were exchanged, compared to its average volume of 102,542. The firm has a 50-day moving average price of $26.76 and a 200-day moving average price of $25.54. Intrepid Potash has a 52 week low of $18.83 and a 52 week high of $31.29. The company has a market cap of $386.66 million, a P/E ratio of -8.73 and a beta of 2.18.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly 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). The company had revenue of $55.80 million for the quarter, compared to analyst estimates of $50.35 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period last year, the company posted ($0.41) earnings per share. On average, research analysts expect that Intrepid Potash will post -0.17 earnings per share for the current fiscal year.

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Insider Buying and Selling at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 8,984 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $30.56, for a total value of $274,551.04. Following the completion of the transaction, the insider now owns 1,105,545 shares of the company's stock, valued at $33,785,455.20. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 227,805 shares of company stock valued at $6,168,096 in the last three months. 18.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intrepid Potash

Several hedge funds have recently bought and sold shares of IPI. American Century Companies Inc. lifted its holdings in shares of Intrepid Potash by 0.3% during the 4th quarter. American Century Companies Inc. now owns 185,844 shares of the basic materials company's stock worth $4,074,000 after acquiring an additional 577 shares during the period. Glenorchy Capital Ltd lifted its stake in Intrepid Potash by 1.1% during the fourth quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company's stock worth $1,379,000 after purchasing an additional 714 shares during the last quarter. SG Americas Securities LLC lifted its stake in Intrepid Potash by 14.0% during the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company's stock worth $148,000 after purchasing an additional 830 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Intrepid Potash by 0.6% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company's stock valued at $4,803,000 after purchasing an additional 1,272 shares in the last quarter. Finally, State Street Corp increased 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 during the last quarter. 56.13% of the stock is 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.