Zacks Investment Research cut shares of Intrepid Potash (NYSE:IPI) from a buy rating to a hold rating in a research report released on Thursday morning.
According to Zacks, “INTREPID POTASH, Inc. is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and langbeinite, another mineral containing potassium. Intrepid owns five active potash production facilities — three in New Mexico and two in Utah “
Get Intrepid Potash alerts:A number of other analysts have also weighed in on the stock. TheStreet upgraded shares of Intrepid Potash from a d+ rating to a c- rating in a research note on Monday, November 12th. BMO Capital Markets raised their price target on shares of Intrepid Potash from $3.25 to $4.00 and gave the company a market perform rating in a research report on Wednesday, October 31st. Finally, Stephens set a $7.00 price target on shares of Intrepid Potash and gave the company a buy rating in a research report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $4.56.
Shares of NYSE:IPI traded up $0.03 during midday trading on Thursday, reaching $3.84. The company’s stock had a trading volume of 17,979 shares, compared to its average volume of 411,246. The firm has a market capitalization of $499.53 million, a P/E ratio of -21.42 and a beta of 1.07. Intrepid Potash has a twelve month low of $2.51 and a twelve month high of $5.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.23 and a quick ratio of 1.47.
In other news, major shareholder Clearway Capital Management Lt purchased 203,470 shares of the company’s stock in a transaction that occurred on Thursday, January 10th. The shares were bought at an average price of $3.18 per share, for a total transaction of $647,034.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 453,470 shares of company stock worth $1,441,035. 27.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new stake in shares of Intrepid Potash in the fourth quarter valued at about $27,000. SG Americas Securities LLC acquired a new stake in shares of Intrepid Potash in the fourth quarter valued at about $34,000. Two Sigma Securities LLC acquired a new stake in shares of Intrepid Potash in the fourth quarter valued at about $65,000. PEAK6 Investments LLC acquired a new stake in shares of Intrepid Potash in the third quarter valued at about $107,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Intrepid Potash in the fourth quarter valued at about $80,000. Institutional investors and hedge funds own 43.51% of the company’s stock.
Intrepid Potash Company Profile
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.
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