Intrepid Potash (NYSE:IPI) Stock Price Down 5.3%

Intrepid Potash, Inc. (NYSE:IPI)’s stock price was down 5.3% during trading on Friday . The stock traded as low as $2.85 and last traded at $2.88, approximately 572,950 shares changed hands during mid-day trading. An increase of 18% from the average daily volume of 485,842 shares. The stock had previously closed at $3.04.

Several equities research analysts have commented on IPI shares. Zacks Investment Research upgraded shares of Intrepid Potash from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research note on Friday, August 9th. ValuEngine lowered shares of Intrepid Potash from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $4.92.

The company’s 50 day moving average price is $3.39 and its 200-day moving average price is $3.52. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.57 and a current ratio of 1.62. The company has a market cap of $401.19 million, a PE ratio of 32.00 and a beta of 1.18.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. Intrepid Potash had a net margin of 10.78% and a return on equity of 5.52%. The company had revenue of $62.51 million during the quarter, compared to analyst estimates of $55.68 million. During the same quarter last year, the business posted ($0.01) EPS. Intrepid Potash’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts expect that Intrepid Potash, Inc. will post 0.21 EPS for the current year.

In other Intrepid Potash news, major shareholder Clearway Capital Management Lt acquired 50,000 shares of Intrepid Potash stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average cost of $3.02 per share, for a total transaction of $151,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hugh E. Harvey, Jr. acquired 20,000 shares of Intrepid Potash stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of $3.23 per share, with a total value of $64,600.00. Following the completion of the purchase, the director now directly owns 231,972 shares in the company, valued at approximately $749,269.56. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 93,766 shares of company stock valued at $289,343. 27.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in IPI. Investors Research Corp purchased a new position in Intrepid Potash in the 1st quarter valued at approximately $25,000. Bank of Montreal Can grew its stake in Intrepid Potash by 49,843.8% in the 2nd quarter. Bank of Montreal Can now owns 7,991 shares of the basic materials company’s stock valued at $27,000 after buying an additional 7,975 shares in the last quarter. Legal & General Group Plc grew its stake in Intrepid Potash by 24.1% in the 4th quarter. Legal & General Group Plc now owns 18,218 shares of the basic materials company’s stock valued at $47,000 after buying an additional 3,533 shares in the last quarter. Cutter & CO Brokerage Inc. purchased a new position in Intrepid Potash in the 2nd quarter valued at approximately $57,000. Finally, Alambic Investment Management L.P. purchased a new position in Intrepid Potash in the 1st quarter valued at approximately $64,000. Institutional investors and hedge funds own 43.92% of the company’s stock.

About Intrepid Potash (NYSE:IPI)

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.

Recommended Story: How Important is Technical Analysis of Stocks

Receive News & Ratings for Intrepid Potash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intrepid Potash and related companies with MarketBeat.com's FREE daily email newsletter.