Intrepid Potash (NYSE:IPI) Upgraded 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.

Separately, UBS Group lifted their price target on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday.

Intrepid Potash Price Performance

Shares of IPI opened at $27.68 on Wednesday. The firm has a 50 day simple moving average of $24.47 and a 200-day simple moving average of $24.08. Intrepid Potash has a 1-year low of $17.52 and a 1-year high of $29.75.

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

Institutional Investors Weigh In On Intrepid Potash

A number of institutional investors have recently added to or reduced their stakes in IPI. Pinnacle Associates Ltd. acquired a new position in shares of Intrepid Potash in the 3rd quarter valued at about $3,100,000. First Eagle Investment Management LLC raised its holdings in Intrepid Potash by 25.1% in the second quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock valued at $14,123,000 after buying an additional 121,100 shares during the period. Acadian Asset Management LLC lifted its position in Intrepid Potash by 517.6% during the first quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company’s stock valued at $1,211,000 after buying an additional 48,715 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Intrepid Potash during the second quarter worth approximately $979,000. Finally, Glenorchy Capital Ltd increased its position in shares of Intrepid Potash by 95.7% in the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock worth $1,493,000 after acquiring an additional 30,425 shares in the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

About Intrepid Potash

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.