Zacks Investment Research upgraded shares of Intrepid Potash (NYSE:IPI) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. The brokerage currently has $4.00 price objective on the basic materials company’s stock.

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 “

Other analysts have also issued reports about the stock. TheStreet lowered shares of Bancorp from a b- rating to a c rating in a research report on Monday, April 8th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Intrepid Potash currently has an average rating of Hold and a consensus target price of $5.00.

IPI stock opened at $3.56 on Wednesday. The stock has a market capitalization of $463.89 million, a price-to-earnings ratio of 27.23 and a beta of 1.19. The firm’s 50-day moving average price is $3.31. Intrepid Potash has a one year low of $2.51 and a one year high of $4.41. The company has a current ratio of 4.31, a quick ratio of 1.94 and a debt-to-equity ratio of 0.13.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Tuesday, May 7th. The basic materials company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The business had revenue of $57.60 million during the quarter, compared to analyst estimates of $53.90 million. Intrepid Potash had a net margin of 8.11% and a return on equity of 4.02%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. As a group, sell-side analysts expect that Intrepid Potash will post 0.2 EPS for the current year.

In related news, insider Robert P. Jornayvaz III acquired 17,675 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $3.11 per share, for a total transaction of $54,969.25. Following the completion of the acquisition, the insider now directly owns 2,089,144 shares in the company, valued at approximately $6,497,237.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert P. Jornayvaz III acquired 15,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were bought at an average price of $3.11 per share, for a total transaction of $46,650.00. Following the acquisition, the chief executive officer now owns 2,089,144 shares of the company’s stock, valued at $6,497,237.84. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 62,205 shares of company stock worth $197,554. Corporate insiders own 27.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of IPI. Perella Weinberg Partners Capital Management LP increased its holdings in shares of Intrepid Potash by 817.3% during the first quarter. Perella Weinberg Partners Capital Management LP now owns 2,131,215 shares of the basic materials company’s stock valued at $8,077,000 after acquiring an additional 1,898,891 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Intrepid Potash by 6.2% during the fourth quarter. BlackRock Inc. now owns 7,890,148 shares of the basic materials company’s stock valued at $20,514,000 after acquiring an additional 460,427 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Intrepid Potash by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,924,918 shares of the basic materials company’s stock worth $18,005,000 after buying an additional 410,308 shares during the period. Deutsche Bank AG increased its holdings in Intrepid Potash by 69.7% in the 4th quarter. Deutsche Bank AG now owns 324,141 shares of the basic materials company’s stock worth $841,000 after buying an additional 133,116 shares during the period. Finally, Two Sigma Investments LP acquired a new position in Intrepid Potash in the 4th quarter worth approximately $324,000. Hedge funds and other institutional investors own 43.67% of the company’s stock.

About Intrepid Potash

Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. 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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