Intrepid Potash (NYSE:IPI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

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 “

Other analysts have also recently issued reports about the stock. TheStreet cut shares of Bancorp from a “b-” rating to a “c” rating in a research note on Monday, April 8th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Intrepid Potash has an average rating of “Hold” and a consensus target price of $5.00.

IPI opened at $3.56 on Thursday. The company has a current ratio of 4.31, a quick ratio of 1.94 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $463.89 million, a PE ratio of 27.23 and a beta of 1.19. Intrepid Potash has a twelve month low of $2.51 and a twelve month high of $4.41. The company has a 50-day moving average of $3.31.

Intrepid Potash (NYSE:IPI) last released its earnings results on Tuesday, May 7th. The basic materials company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. The firm had revenue of $57.60 million for the quarter, compared to analysts’ expectations of $53.90 million. Intrepid Potash had a net margin of 8.11% and a return on equity of 4.02%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 earnings per share. On average, sell-side analysts expect that Intrepid Potash will post 0.2 EPS for the current year.

In other Intrepid Potash news, CEO Robert P. Jornayvaz III purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $3.11 per share, for a total transaction of $46,650.00. Following the purchase, the chief executive officer now owns 2,089,144 shares of the company’s stock, valued at approximately $6,497,237.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert P. Jornayvaz III purchased 17,675 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $3.11 per share, for a total transaction of $54,969.25. Following the completion of the purchase, the insider now directly owns 2,089,144 shares in the company, valued at approximately $6,497,237.84. The disclosure for this purchase can be found here. Insiders have purchased a total of 62,205 shares of company stock worth $197,554 over the last 90 days. 27.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in IPI. WINTON GROUP Ltd increased its stake in Intrepid Potash by 44.7% during the 2nd quarter. WINTON GROUP Ltd now owns 300,087 shares of the basic materials company’s stock valued at $1,008,000 after purchasing an additional 92,687 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in Intrepid Potash by 13.5% during the 1st quarter. Kennedy Capital Management Inc. now owns 851,418 shares of the basic materials company’s stock valued at $3,227,000 after purchasing an additional 101,418 shares in the last quarter. Sawtooth Solutions LLC bought a new stake in Intrepid Potash during the 1st quarter valued at about $274,000. Schneider Capital Management Corp increased its stake in Intrepid Potash by 9.6% during the 1st quarter. Schneider Capital Management Corp now owns 122,105 shares of the basic materials company’s stock valued at $463,000 after purchasing an additional 10,725 shares in the last quarter. Finally, THB Asset Management increased its stake in Intrepid Potash by 52.5% during the 1st quarter. THB Asset Management now owns 140,867 shares of the basic materials company’s stock valued at $533,000 after purchasing an additional 48,490 shares in the last quarter. Institutional investors own 43.67% of the company’s stock.

Intrepid Potash Company Profile

Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. 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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