Intrepid Potash (NYSE:IPI) announced its earnings results on Tuesday, October 30th. The basic materials company reported $0.03 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03, MarketWatch Earnings reports. Intrepid Potash had a net margin of 1.59% and a return on equity of 0.03%. The business had revenue of $36.53 million during the quarter, compared to analysts’ expectations of $35.85 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis.
NYSE IPI traded up $0.05 on Thursday, hitting $3.57. 391,609 shares of the stock were exchanged, compared to its average volume of 913,664. The firm has a market capitalization of $461.50 million, a P/E ratio of -19.83 and a beta of 0.74. Intrepid Potash has a 52 week low of $3.12 and a 52 week high of $5.31. The company has a current ratio of 3.23, a quick ratio of 1.47 and a debt-to-equity ratio of 0.12.
Several research firms have issued reports on IPI. Stephens set a $7.00 price target on shares of Intrepid Potash and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. TheStreet raised shares of Intrepid Potash from a “d+” rating to a “c-” rating in a research report on Monday, November 12th. BMO Capital Markets dropped their price target on shares of Intrepid Potash from $4.00 to $3.25 and set a “market perform” rating on the stock in a research report on Monday, August 6th. Finally, ValuEngine lowered shares of Intrepid Potash from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $4.81.
In related news, CEO Robert P. Jornayvaz III acquired 10,800 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were bought at an average cost of $3.30 per share, with a total value of $35,640.00. Following the completion of the transaction, the chief executive officer now directly owns 1,206,650 shares of the company’s stock, valued at $3,981,945. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James N. Whyte sold 88,088 shares of the stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $4.27, for a total transaction of $376,135.76. Following the completion of the transaction, the executive vice president now directly owns 298,838 shares in the company, valued at $1,276,038.26. The disclosure for this sale can be found here. Insiders bought 933,734 shares of company stock worth $3,336,714 over the last three months. Insiders own 27.30% 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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