Intrepid Potash (NYSE:IPI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “INTREPID POTASH, Inc. is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and langbeinite, another mineral containing potassium. Intrepid owns five active potash production facilities — three in New Mexico and two in Utah “
A number of other equities research analysts have also issued reports on the stock. Stephens set a $7.00 target price on shares of Intrepid Potash and gave the company a “buy” rating in a research note on Tuesday, October 30th. TheStreet raised shares of Intrepid Potash from a “d+” rating to a “c-” rating in a research report on Monday, November 12th. Finally, BMO Capital Markets boosted their price objective on shares of Intrepid Potash from $3.25 to $4.00 and gave the stock a “market perform” rating in a report on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Intrepid Potash currently has a consensus rating of “Hold” and a consensus target price of $4.56.
Intrepid Potash stock opened at $3.73 on Thursday. The company has a current ratio of 3.23, a quick ratio of 1.47 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $422.17 million, a price-to-earnings ratio of -20.72 and a beta of 1.07. Intrepid Potash has a 1 year low of $2.51 and a 1 year high of $5.31.
In related news, major shareholder Clearway Capital Management Lt acquired 50,000 shares of the stock in a transaction dated Thursday, December 13th. The stock was bought at an average price of $3.00 per share, with a total value of $150,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 453,470 shares of company stock valued at $1,441,035 in the last ninety days. Insiders own 27.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Intrepid Potash in the 4th quarter valued at about $34,000. WINTON GROUP Ltd acquired a new stake in Intrepid Potash during the 4th quarter worth approximately $80,000. Virtu Financial LLC lifted its position in shares of Intrepid Potash by 122.5% in the 4th quarter. Virtu Financial LLC now owns 32,399 shares of the basic materials company’s stock worth $84,000 after purchasing an additional 17,836 shares during the period. ETF Managers Group LLC lifted its position in shares of Intrepid Potash by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 35,827 shares of the basic materials company’s stock worth $93,000 after purchasing an additional 4,884 shares during the period. Finally, Wambolt & Associates LLC acquired a new position in shares of Intrepid Potash in the 4th quarter worth approximately $96,000. Institutional investors and hedge funds own 43.51% of the company’s stock.
About Intrepid Potash
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. 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.
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