Intrepid Potash (NYSE:IPI) Shares Gap Up to $41.66

Intrepid Potash, Inc. (NYSE:IPI) shares gapped up prior to trading on Friday . The stock had previously closed at $41.66, but opened at $42.57. Intrepid Potash shares last traded at $41.42, with a volume of 130 shares changing hands.

A number of brokerages have weighed in on IPI. Zacks Investment Research lowered Intrepid Potash from a “strong-buy” rating to a “hold” rating in a report on Monday, December 20th. UBS Group lifted their price objective on Intrepid Potash from $23.00 to $25.00 and gave the company a “sell” rating in a report on Tuesday, January 4th. Finally, BMO Capital Markets lifted their price objective on Intrepid Potash from $27.00 to $34.00 and gave the company a “market perform” rating in a report on Wednesday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.25.

The company has a 50 day moving average price of $42.74 and a 200 day moving average price of $37.09. The firm has a market cap of $555.74 million, a PE ratio of 22.04 and a beta of 2.24.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Sunday, October 31st. The basic materials company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.28). The firm had revenue of $51.24 million for the quarter. Intrepid Potash had a return on equity of 3.10% and a net margin of 10.23%. During the same quarter last year, the business earned ($0.78) earnings per share. Equities analysts anticipate that Intrepid Potash, Inc. will post 2.2 EPS for the current year.

Several large investors have recently made changes to their positions in IPI. American Century Companies Inc. purchased a new stake in shares of Intrepid Potash during the 2nd quarter worth approximately $219,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Intrepid Potash during the 2nd quarter worth approximately $224,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Intrepid Potash during the 2nd quarter worth approximately $278,000. Bank of New York Mellon Corp raised its position in shares of Intrepid Potash by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,576 shares of the basic materials company’s stock worth $1,261,000 after purchasing an additional 903 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Intrepid Potash during the 2nd quarter worth approximately $1,093,000. 36.59% of the stock is currently owned by institutional investors and hedge funds.

Intrepid Potash Company Profile (NYSE:IPI)

Intrepid Potash, Inc engages in the delivery of potassium, magnesium, sulfur, and salt essential. The firm serves the agriculture, organics, animal feed, industrial, and oilfield solutions industries. It operates through the following segments: Potash, Oilfield Solutions, and Trio. The company was founded in January 2000 and is headquartered in Denver, CO.

Further Reading: Net Income

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