Intrepid Potash (NYSE:IPI) Given New $19.00 Price Target at UBS Group

Intrepid Potash (NYSE:IPI) had its price objective raised by equities researchers at UBS Group from $18.00 to $19.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “sell” rating on the basic materials company’s stock. UBS Group’s price objective suggests a potential downside of 33.77% from the company’s current price.

Intrepid Potash Price Performance

Shares of NYSE:IPI traded up $1.97 during trading on Tuesday, reaching $28.69. 189,454 shares of the company’s stock traded hands, compared to its average volume of 88,995. Intrepid Potash has a 12 month low of $17.52 and a 12 month high of $29.10. The company has a 50 day moving average of $24.20 and a 200-day moving average of $23.91. The stock has a market capitalization of $381.00 million, a P/E ratio of -7.61 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 2.02% and a negative net margin of 19.19%. The firm had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. During the same quarter last year, the company posted ($0.53) EPS. Equities research analysts predict that Intrepid Potash will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC grew its position in Intrepid Potash by 517.6% in the 1st quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company’s stock worth $1,211,000 after purchasing an additional 48,715 shares during the last quarter. First Eagle Investment Management LLC grew its position in Intrepid Potash by 19.4% in the 1st quarter. First Eagle Investment Management LLC now owns 481,670 shares of the basic materials company’s stock worth $10,048,000 after purchasing an additional 78,200 shares during the last quarter. Glenorchy Capital Ltd grew its position in Intrepid Potash by 95.7% in the 3rd quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock worth $1,493,000 after purchasing an additional 30,425 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Intrepid Potash in the second quarter valued at approximately $979,000. Finally, Pinnacle Associates Ltd. bought a new position in shares of Intrepid Potash in the third quarter valued at approximately $3,100,000. Institutional investors own 56.13% of the company’s stock.

Intrepid Potash Company Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.