Intrepid Potash (NYSE:IPI) Given New $19.00 Price Target at UBS Group

Intrepid Potash (NYSE:IPI) had its price target raised by equities researchers at UBS Group from $18.00 to $19.00 in a research note issued to investors 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 33.77% from the stock’s current price.

Intrepid Potash Trading Up 7.4 %

IPI stock traded up $1.97 during trading on Tuesday, reaching $28.69. The stock had a trading volume of 189,454 shares, compared to its average volume of 88,995. Intrepid Potash has a 1-year low of $17.52 and a 1-year high of $29.10. The company has a market capitalization of $381.00 million, a P/E ratio of -7.61 and a beta of 2.18. The firm has a fifty day moving average price of $24.20 and a 200 day moving average price of $23.91.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $42.57 million. During the same quarter in the prior year, the firm earned ($0.53) EPS. Sell-side analysts predict that Intrepid Potash will post 0.27 EPS for the current year.

Institutional Investors Weigh In On Intrepid Potash

A number of institutional investors have recently modified their holdings of IPI. SG Americas Securities LLC acquired a new stake in shares of Intrepid Potash in the 3rd quarter valued at about $142,000. Marquette Asset Management LLC acquired a new stake in shares of Intrepid Potash in the 1st quarter valued at about $144,000. Squarepoint Ops LLC acquired a new stake in shares of Intrepid Potash in the 2nd quarter valued at about $303,000. Rhumbline Advisers raised its stake in shares of Intrepid Potash by 5.0% in the 2nd 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 in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Intrepid Potash by 7.7% in the 1st quarter. Empowered Funds LLC now owns 31,732 shares of the basic materials company’s stock valued at $662,000 after purchasing an additional 2,275 shares in the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

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.