Intrepid Potash (NYSE:IPI) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Intrepid Potash (NYSE:IPI) from a sell rating to a hold rating in a report issued on Wednesday.

Separately, UBS Group increased their target price on shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research note on Tuesday, November 5th.

Intrepid Potash Trading Down 0.7 %

Shares of IPI stock opened at $27.68 on Wednesday. The stock has a market capitalization of $364.27 million, a P/E ratio of -8.26 and a beta of 2.18. The firm’s 50 day moving average is $24.47 and its 200 day moving average is $24.11. Intrepid Potash has a 12 month low of $17.52 and a 12 month high of $29.75.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results 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 net margin of 16.86% and a negative return on equity of 1.32%. The business had revenue of $57.55 million for the quarter, compared to analysts’ expectations of $42.57 million. During the same quarter in the previous year, the company posted ($0.53) earnings per share. On average, equities analysts predict that Intrepid Potash will post 0.27 EPS for the current year.

Hedge Funds Weigh In On Intrepid Potash

A number of institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its holdings 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 worth $422,000 after buying an additional 861 shares during the last quarter. Empowered Funds LLC increased its holdings 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 worth $662,000 after buying an additional 2,275 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Intrepid Potash by 5.2% in the 2nd quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock worth $1,086,000 after buying an additional 2,306 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Intrepid Potash in the 3rd quarter worth $142,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Intrepid Potash by 14.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 51,775 shares of the basic materials company’s stock worth $1,213,000 after buying an additional 6,632 shares during the last quarter. Institutional investors 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.