Intrepid Potash, Inc. (NYSE:IPI)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $3.07 and last traded at $3.15, with a volume of 520931 shares trading hands. The stock had previously closed at $3.22.
Several equities analysts have commented on IPI shares. Zacks Investment Research upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. ValuEngine downgraded shares of Intrepid Potash from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Stephens set a $7.00 price target on shares of Intrepid Potash and gave the company a “buy” rating in a research note on Tuesday, October 30th. BMO Capital Markets upped their price target on shares of Intrepid Potash from $3.25 to $4.00 and gave the company a “market perform” rating in a research note on Wednesday, October 31st. Finally, TheStreet upgraded shares of Intrepid Potash from a “d+” rating to a “c-” rating in a research note on Monday, November 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Intrepid Potash has a consensus rating of “Hold” and an average target price of $4.81.
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 stock has a market capitalization of $422.16 million, a price-to-earnings ratio of -17.06 and a beta of 0.69.
In other Intrepid Potash news, major shareholder Clearway Capital Management Lt bought 306,467 shares of the stock in a transaction dated Wednesday, October 17th. The shares were bought at an average cost of $3.55 per share, for a total transaction of $1,087,957.85. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James N. Whyte sold 88,088 shares of Intrepid Potash stock in a transaction on Friday, November 9th. The stock was sold at an average price of $4.27, for a total value of $376,135.76. Following the sale, the executive vice president now owns 298,838 shares in the company, valued at $1,276,038.26. The disclosure for this sale can be found here. 27.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new stake in Intrepid Potash in the 3rd quarter worth about $1,868,000. Vanguard Group Inc. grew its holdings in Intrepid Potash by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,466,602 shares of the basic materials company’s stock valued at $16,035,000 after buying an additional 51,376 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in Intrepid Potash by 9.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 887,522 shares of the basic materials company’s stock valued at $3,186,000 after buying an additional 78,183 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in Intrepid Potash by 51.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 72,131 shares of the basic materials company’s stock valued at $259,000 after buying an additional 24,598 shares in the last quarter. Finally, Jefferies Group LLC purchased a new position in Intrepid Potash during the 3rd quarter valued at about $185,000. 43.73% of the stock is owned by institutional investors.
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About Intrepid Potash (NYSE:IPI)
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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