Intrepid Potash (NYSE:IPI) Stock Gets Price Target Reduction from Freedom Broker

Intrepid Potash (NYSE:IPI) had its target price cut by Freedom Broker from $44.00 to $41.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the potash and fertilizer producer’s stock.

IPI has been the topic of a number of other research reports. Freedom Capital raised shares of Intrepid Potash to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of Intrepid Potash in a report on Wednesday, August 19th. Zacks Research downgraded shares of Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 7th. Finally, UBS Group reissued a “buy” rating on shares of Intrepid Potash in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Intrepid Potash Trading Up 1.0%

Shares of IPI stock opened at $31.07 on Monday. The company has a market cap of $418.13 million, a P/E ratio of 16.98 and a beta of 1.06. The firm has a fifty day moving average price of $34.96 and a 200 day moving average price of $36.47. Intrepid Potash has a 12 month low of $22.55 and a 12 month high of $50.34.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Tuesday, November 3rd. The potash and fertilizer producer reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.09). The business had revenue of $51.03 million during the quarter, compared to analyst estimates of $50.41 million. Intrepid Potash had a net margin of 8.31% and a return on equity of 4.78%. On average, equities analysts forecast that Intrepid Potash will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IPI. BlackRock Inc. purchased a new position in shares of Intrepid Potash in the second quarter valued at $37,879,000. Dimensional Fund Advisors LP lifted its holdings in shares of Intrepid Potash by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 734,413 shares of the potash and fertilizer producer’s stock valued at $31,413,000 after purchasing an additional 16,813 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Intrepid Potash by 21.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 267,097 shares of the potash and fertilizer producer’s stock valued at $11,424,000 after purchasing an additional 47,781 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Intrepid Potash by 8.3% in the first quarter. Empowered Funds LLC now owns 88,353 shares of the potash and fertilizer producer’s stock valued at $3,779,000 after purchasing an additional 6,785 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Intrepid Potash in the first quarter valued at approximately $2,484,000. 56.13% of the stock is owned by hedge funds and other institutional investors.

About Intrepid Potash

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