UBS Group Issues Pessimistic Forecast for Intrepid Potash (NYSE:IPI) Stock Price

Intrepid Potash (NYSE:IPI) had its price target cut by stock analysts at UBS Group from $21.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the basic materials company’s stock. UBS Group’s target price would indicate a potential downside of 16.16% from the company’s previous close.

Separately, StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Intrepid Potash Stock Performance

Intrepid Potash stock traded down $0.76 during mid-day trading on Tuesday, reaching $23.86. The stock had a trading volume of 109,386 shares, compared to its average volume of 126,024. The firm has a market capitalization of $315.53 million, a PE ratio of -7.07 and a beta of 2.23. Intrepid Potash has a fifty-two week low of $18.32 and a fifty-two week high of $29.75. The stock’s 50-day simple moving average is $25.07 and its 200-day simple moving average is $24.93.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The firm had revenue of $55.80 million for the quarter, compared to the consensus estimate of $50.35 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same quarter in the previous year, the company posted ($0.41) EPS. On average, research analysts forecast that Intrepid Potash will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Robert P. Jornayvaz III sold 3,557 shares of Intrepid Potash stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $25.00, for a total transaction of $88,925.00. Following the completion of the transaction, the insider now directly owns 129,230 shares of the company’s stock, valued at approximately $3,230,750. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 341,412 shares of company stock valued at $8,725,988. Company insiders own 18.00% of the company’s stock.

Institutional Investors Weigh In On Intrepid Potash

Institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in shares of Intrepid Potash in the fourth quarter worth about $38,000. State of Wyoming acquired a new stake in shares of Intrepid Potash during the 4th quarter worth about $46,000. BNP Paribas Financial Markets purchased a new position in Intrepid Potash during the 4th quarter valued at about $87,000. Aquatic Capital Management LLC raised its position in Intrepid Potash by 274.3% in the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 4,114 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Intrepid Potash by 14.0% in the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 830 shares during the last quarter. Institutional investors own 56.13% of the company’s stock.

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.