Intrepid Potash (NYSE:IPI) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Intrepid Potash (NYSE:IPI) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

Separately, UBS Group increased their price target on shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research report on Tuesday.

Intrepid Potash Stock Performance

NYSE IPI opened at $27.68 on Wednesday. Intrepid Potash has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The business has a 50 day moving average price of $24.47 and a two-hundred day moving average price of $24.08.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.25). The firm had revenue of $57.55 million during the quarter, compared to analysts’ expectations of $42.57 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same quarter last year, the company posted ($0.53) earnings per share. As a group, sell-side analysts forecast that Intrepid Potash will post 0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

Several hedge funds and other institutional investors have recently made changes to their positions in IPI. SG Americas Securities LLC bought a new position in shares of Intrepid Potash in the third quarter valued at approximately $142,000. Marquette Asset Management LLC acquired a new position in Intrepid Potash in the first quarter worth approximately $144,000. Quest Partners LLC increased its holdings in shares of Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after buying an additional 9,448 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Intrepid Potash during the 2nd quarter valued at $303,000. Finally, Rhumbline Advisers boosted its stake in shares of Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 861 shares in the last quarter. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Intrepid Potash Company Profile

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.