Intrepid Potash, Inc (NYSE:IPI) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Intrepid Potash, Inc (NYSE:IPI) have been given an average rating of “Moderate Buy” by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $35.00.

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Intrepid Potash in a report on Wednesday, August 19th. Freedom Capital upgraded shares of Intrepid Potash to a “strong-buy” rating in a report on Friday, July 24th. Freedom Broker decreased their price target on shares of Intrepid Potash from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday. Zacks Research cut Intrepid Potash from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 7th. Finally, UBS Group reaffirmed a “buy” rating on shares of Intrepid Potash in a report on Monday.

Institutional Investors Weigh In On Intrepid Potash

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Intrepid Potash during the second quarter valued at $37,879,000. Empowered Funds LLC purchased a new position in Intrepid Potash in the 2nd quarter worth about $2,668,000. PDT Partners LLC purchased a new position in Intrepid Potash in the 2nd quarter worth about $2,031,000. Janney Montgomery Scott LLC purchased a new position in Intrepid Potash in the 1st quarter worth about $2,484,000. Finally, Bank of New York Mellon Corp acquired a new stake in Intrepid Potash during the 2nd quarter worth about $1,787,000. 56.13% of the stock is owned by institutional investors and hedge funds.

Intrepid Potash Stock Performance

Shares of IPI stock traded down $0.59 during mid-day trading on Monday, hitting $30.99. 139,520 shares of the stock traded hands, compared to its average volume of 247,796. Intrepid Potash has a twelve month low of $22.55 and a twelve month high of $50.34. The company’s 50-day simple moving average is $35.40 and its 200-day simple moving average is $36.51. The firm has a market cap of $417.07 million, a price-to-earnings ratio of 15.65 and a beta of 1.31.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Tuesday, August 4th. The potash and fertilizer producer reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.22). Intrepid Potash had a net margin of 8.94% and a return on equity of 4.74%. The business had revenue of $66.69 million during the quarter, compared to analyst estimates of $64.86 million. Analysts forecast that Intrepid Potash will post 1.77 earnings per share for the current year.

About Intrepid Potash

Intrepid Potash, Inc is a U.S.-based mineral producer specializing in potash and specialty fertilizers.