UBS Group Forecasts Strong Price Appreciation for Intrepid Potash (NYSE:IPI) Stock

Intrepid Potash (NYSE:IPI) had its price target upped by investment analysts at UBS Group from $19.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the basic materials company’s stock. UBS Group’s price target indicates a potential downside of 22.38% from the company’s previous close.

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

Intrepid Potash Stock Performance

Shares of NYSE:IPI opened at $27.06 on Tuesday. Intrepid Potash has a 52-week low of $17.52 and a 52-week high of $29.75. The company has a market capitalization of $356.04 million, a P/E ratio of -8.08 and a beta of 2.23. The company has a 50-day simple moving average of $25.04 and a 200 day simple moving average of $24.68.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $57.55 million for the quarter, compared to the consensus estimate of $42.57 million. During the same quarter in the prior year, the firm posted ($0.53) earnings per share. As a group, equities analysts forecast that Intrepid Potash will post -0.17 earnings per share for the current year.

Insider Buying and Selling at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 159,513 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $25.12, for a total transaction of $4,006,966.56. Following the transaction, the insider now owns 1,285,000 shares in the company, valued at $32,279,200. This represents a 11.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 458,748 shares of company stock valued at $11,740,406 in the last ninety days. 18.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intrepid Potash

Several institutional investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in Intrepid Potash in the 4th quarter valued at $38,000. SG Americas Securities LLC acquired a new position in Intrepid Potash in the third quarter valued at about $142,000. Quest Partners LLC raised its stake in Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 9,448 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Intrepid Potash during the second quarter worth about $303,000. Finally, Barclays PLC grew its stake in Intrepid Potash by 282.6% during the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after buying an additional 10,599 shares in the last quarter. 56.13% of the stock is currently owned by institutional investors.

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.