Zacks Investment Research upgraded shares of Intrepid Potash (NYSE:IPI) from a sell rating to a hold rating in a report released on Wednesday 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 “

A number of other analysts have also weighed in on the company. Stephens started coverage on Intrepid Potash in a research note on Monday, December 4th. They issued an equal weight rating and a $4.00 target price for the company. Cowen reiterated a sell rating and issued a $3.50 price target on shares of Intrepid Potash in a report on Friday, December 1st. Finally, ValuEngine cut Intrepid Potash from a sell rating to a strong sell rating in a report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $3.60.

Intrepid Potash (NYSE IPI) opened at $4.01 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.77 and a current ratio of 2.99. Intrepid Potash has a 12 month low of $1.24 and a 12 month high of $5.12. The stock has a market capitalization of $539.18, a price-to-earnings ratio of -16.71 and a beta of 0.95.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Tuesday, February 27th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). Intrepid Potash had a negative net margin of 14.54% and a negative return on equity of 5.31%. The business had revenue of $33.30 million during the quarter, compared to analyst estimates of $30.68 million. During the same quarter last year, the business posted ($0.19) earnings per share. The business’s quarterly revenue was down 21.1% compared to the same quarter last year. equities analysts anticipate that Intrepid Potash will post 0.12 EPS for the current fiscal year.

In related news, major shareholder Clearway Capital Management Lt bought 211,344 shares of Intrepid Potash stock in a transaction on Thursday, February 8th. The shares were purchased at an average price of $3.30 per share, for a total transaction of $697,435.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Jornayvaz III acquired 15,900 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were acquired at an average price of $3.30 per share, for a total transaction of $52,470.00. Following the acquisition, the chief executive officer now directly owns 1,206,650 shares in the company, valued at $3,981,945. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 342,244 shares of company stock worth $1,155,155. Company insiders own 27.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC bought a new position in shares of Intrepid Potash during the 4th quarter valued at about $106,000. Jane Street Group LLC bought a new position in shares of Intrepid Potash during the 4th quarter valued at about $118,000. LPL Financial LLC acquired a new stake in Intrepid Potash in the 4th quarter valued at approximately $132,000. Two Sigma Investments LP raised its position in Intrepid Potash by 163.5% in the 4th quarter. Two Sigma Investments LP now owns 136,263 shares of the basic materials company’s stock valued at $649,000 after buying an additional 84,559 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Intrepid Potash by 140.0% in the 4th quarter. Deutsche Bank AG now owns 212,218 shares of the basic materials company’s stock valued at $1,009,000 after buying an additional 123,796 shares during the last quarter. Institutional investors and hedge funds own 46.86% of the company’s stock.

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About Intrepid Potash

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-related products. Its products are potash and Trio.

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