Intrepid Potash (NYSE:IPI) Price Target Cut to $19.00 by Analysts at UBS Group

Intrepid Potash (NYSE:IPI - Get Free Report) had its price objective cut by investment analysts at UBS Group from $20.00 to $19.00 in a research note issued to investors on Wednesday,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 34.31% from the stock's current price.

Separately, StockNews.com downgraded shares of Intrepid Potash from a "hold" rating to a "sell" rating in a report on Thursday, March 27th.

Intrepid Potash Stock Performance

Shares of NYSE:IPI traded down $0.47 during trading hours on Wednesday, hitting $28.92. The stock had a trading volume of 195,057 shares, compared to its average volume of 107,275. The stock's fifty day simple moving average is $27.19 and its 200 day simple moving average is $25.94. The firm has a market capitalization of $382.54 million, a price-to-earnings ratio of -8.63 and a beta of 1.78. Intrepid Potash has a 1-year low of $19.34 and a 1-year high of $31.29.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted 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 net margin of 16.86% and a negative return on equity of 1.32%. The business had revenue of $55.80 million during the quarter, compared to analyst estimates of $50.35 million. During the same quarter in the prior year, the business earned ($0.41) earnings per share. As a group, research analysts anticipate that Intrepid Potash will post -0.17 EPS for the current year.

Insider Buying and Selling at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 24,567 shares of Intrepid Potash stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $26.93, for a total value of $661,589.31. Following the transaction, the insider now owns 104,663 shares of the company's stock, valued at $2,818,574.59. The trade was a 19.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders sold 227,822 shares of company stock valued at $6,168,606. 18.00% of the stock is owned by corporate insiders.

Institutional Trading of Intrepid Potash

A number of large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in shares of Intrepid Potash during the 1st quarter valued at $102,000. Assenagon Asset Management S.A. purchased a new position in Intrepid Potash in the 1st quarter worth about $211,000. Summit Global Investments acquired a new stake in Intrepid Potash during the 1st quarter worth about $417,000. GAMMA Investing LLC lifted its stake in Intrepid Potash by 3,323.2% during the first quarter. GAMMA Investing LLC now owns 29,713 shares of the basic materials company's stock valued at $8,730,000 after buying an additional 28,845 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Intrepid Potash in the fourth quarter worth approximately $1,007,000. 56.13% of the stock is currently 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.