Analysts Set Intrepid Potash Inc. (IPI) Target Price at $1.31
Intrepid Potash Inc. (NYSE:IPI) has been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $1.31.
Separately, Zacks Investment Research raised Intrepid Potash from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research note on Wednesday, November 9th.
Intrepid Potash (NYSE:IPI) opened at 1.36 on Thursday. Intrepid Potash has a 52 week low of $0.65 and a 52 week high of $3.77. The firm’s 50-day moving average is $1.09 and its 200 day moving average is $1.27. The stock’s market cap is $102.11 million.
Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.11. Intrepid Potash had a negative return on equity of 16.76% and a negative net margin of 268.61%. The firm had revenue of $43.64 million for the quarter, compared to analysts’ expectations of $35.83 million. During the same period last year, the business earned ($0.06) earnings per share. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. On average, equities research analysts expect that Intrepid Potash will post ($0.72) EPS for the current year.
In other Intrepid Potash news, insider Robert P. Jornayvaz III purchased 47,210 shares of the company’s stock in a transaction on Friday, November 4th. The shares were bought at an average cost of $1.09 per share, with a total value of $51,458.90. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 27.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. AIMZ Investment Advisors LLC increased its position in shares of Intrepid Potash by 69.0% in the first quarter. AIMZ Investment Advisors LLC now owns 69,697 shares of the company’s stock valued at $805,000 after buying an additional 28,445 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Intrepid Potash during the second quarter valued at approximately $114,000. Tower Research Capital LLC TRC increased its position in shares of Intrepid Potash by 1,393.7% in the second quarter. Tower Research Capital LLC TRC now owns 122,599 shares of the company’s stock valued at $177,000 after buying an additional 114,391 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Intrepid Potash during the second quarter valued at approximately $291,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Intrepid Potash during the second quarter valued at approximately $322,000. 39.55% of the stock is currently owned by institutional investors.
Intrepid Potash Company Profile
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium containing products segment. Its products are potash and Trio.
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