Intrepid Potash (NYSE:IPI) Downgraded to Hold Rating by Wall Street Zen
Wall Street Zen downgraded Intrepid Potash (NYSE:IPI) from a "buy" to a "hold" rating. Other analysts, including Zacks Research and UBS Group, have also lowered their ratings, with UBS setting a price target of $23.00. The stock has an average rating of "Sell" and a market cap of $335.95 million. Intrepid Potash reported a quarterly EPS of $0.11, missing estimates, and had a negative net margin of 71.13%. Hedge funds hold 56.13% of the stock, indicating significant institutional interest.
Intrepid Potash (NYSE:IPI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.
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Other analysts have also issued research reports about the stock. Zacks Research lowered shares of Intrepid Potash from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 20th. UBS Group decreased their price target on shares of Intrepid Potash from $24.00 to $23.00 and set a "sell" rating for the company in a research note on Thursday, August 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Intrepid Potash in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Sell" and a consensus price target of $23.00.
Read Our Latest Research Report on IPI
Intrepid Potash Trading Up 5.4%
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IPI stock opened at $25.23 on Friday. The stock has a market cap of $335.95 million, a P/E ratio of -1.62 and a beta of 1.85. The stock's fifty day simple moving average is $28.45 and its two-hundred day simple moving average is $32.31. Intrepid Potash has a 1-year low of $20.86 and a 1-year high of $39.01.
Intrepid Potash (NYSE:IPI - Get Free Report) last released its earnings results on Wednesday, November 5th. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). The business had revenue of $53.22 million for the quarter, compared to the consensus estimate of $49.54 million. Intrepid Potash had a positive return on equity of 1.48% and a negative net margin of 71.13%. As a group, analysts forecast that Intrepid Potash will post -0.17 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Intrepid Potash by 12.6% during the third quarter. Vanguard Group Inc. now owns 726,027 shares of the basic materials company's stock worth $22,202,000 after acquiring an additional 81,121 shares in the last quarter. Invenomic Capital Management LP bought a new stake in shares of Intrepid Potash during the 1st quarter valued at $10,210,000. Azarias Capital Management L.P. raised its stake in shares of Intrepid Potash by 64.9% during the 3rd quarter. Azarias Capital Management L.P. now owns 259,788 shares of the basic materials company's stock valued at $7,944,000 after purchasing an additional 102,266 shares during the period. Geode Capital Management LLC lifted its holdings in Intrepid Potash by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 241,039 shares of the basic materials company's stock worth $8,614,000 after purchasing an additional 1,520 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Intrepid Potash by 24.7% in the 2nd quarter. American Century Companies Inc. now owns 230,113 shares of the basic materials company's stock worth $8,222,000 after purchasing an additional 45,577 shares during the period. 56.13% of the stock is currently owned by hedge funds and other institutional investors.
About Intrepid Potash
(Get Free Report)Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.
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