Intrepid Potash (NYSE:IPI) Releases Earnings Results

Intrepid Potash (NYSE:IPI) announced its quarterly earnings data on Monday. The basic materials company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06), Zacks reports. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The company had revenue of $55.80 million for the quarter, compared to analyst estimates of $50.35 million. During the same quarter in the prior year, the company posted ($0.41) EPS.

Intrepid Potash Stock Performance

Shares of NYSE IPI opened at $24.57 on Tuesday. The stock has a market cap of $324.99 million, a PE ratio of -7.33 and a beta of 2.23. Intrepid Potash has a fifty-two week low of $18.32 and a fifty-two week high of $29.75. The stock has a fifty day moving average of $25.07 and a 200-day moving average of $24.93.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group raised their target price on Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, January 28th. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Insiders Place Their Bets

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 14,736 shares of Intrepid Potash stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $25.67, for a total transaction of $378,273.12. Following the completion of the sale, the insider now owns 1,212,823 shares of the company’s stock, valued at $31,133,166.41. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 341,412 shares of company stock worth $8,725,988 in the last three months. 18.00% of the stock is currently owned by corporate insiders.

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.