Intrepid Potash (NYSE:IPI) Upgraded at Zacks Research

Intrepid Potash (NYSE:IPI) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Freedom Capital raised shares of Intrepid Potash to a “strong-buy” rating in a report on Friday, July 24th. UBS Group upped their price target on shares of Intrepid Potash from $25.00 to $26.00 and gave the stock a “sell” rating in a report on Thursday, May 14th. Finally, Weiss Ratings raised Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.00.

Intrepid Potash Stock Performance

Shares of IPI opened at $36.97 on Monday. Intrepid Potash has a 52 week low of $22.55 and a 52 week high of $50.34. The firm has a market capitalization of $497.55 million, a P/E ratio of 18.67 and a beta of 1.24. The stock has a 50 day moving average price of $34.63 and a two-hundred day moving average price of $37.04.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Tuesday, August 4th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.22). Intrepid Potash had a net margin of 8.94% and a return on equity of 4.74%. The firm had revenue of $66.69 million during the quarter, compared to analysts’ expectations of $64.86 million. On average, equities analysts forecast that Intrepid Potash will post 1.86 earnings per share for the current year.

Institutional Investors Weigh In On Intrepid Potash

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Intrepid Potash in the second quarter worth $37,879,000. Deutsche Bank AG bought a new position in shares of Intrepid Potash during the second quarter valued at about $850,000. Bank of New York Mellon Corp bought a new position in shares of Intrepid Potash during the second quarter valued at about $1,787,000. State of Wyoming purchased a new position in shares of Intrepid Potash in the second quarter worth about $284,000. Finally, Marquette Asset Management LLC bought a new stake in shares of Intrepid Potash in the 2nd quarter valued at about $212,000. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.