Intrepid Potash (NYSE:IPI) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Intrepid Potash (NYSE:IPI) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, 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 “

Separately, ValuEngine raised shares of Intrepid Potash from a strong sell rating to a sell rating in a report on Thursday, October 17th.

IPI traded down $0.07 during trading on Thursday, hitting $2.53. The company had a trading volume of 534,091 shares, compared to its average volume of 462,153. The company has a market cap of $384.02 million, a PE ratio of 28.11 and a beta of 1.28. The business has a 50-day moving average of $3.21 and a 200-day moving average of $3.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.57. Intrepid Potash has a 1-year low of $2.51 and a 1-year high of $4.39.

In other Intrepid Potash news, Director Hugh E. Harvey, Jr. bought 20,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $3.23 per share, with a total value of $64,600.00. Following the completion of the acquisition, the director now owns 231,972 shares of the company’s stock, valued at $749,269.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert P. Jornayvaz III bought 39,500 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were acquired at an average cost of $2.84 per share, for a total transaction of $112,180.00. Following the completion of the acquisition, the insider now directly owns 2,099,144 shares of the company’s stock, valued at approximately $5,961,568.96. The disclosure for this purchase can be found here. Insiders purchased 121,896 shares of company stock worth $364,099 over the last ninety days. 27.80% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the business. Great Lakes Advisors LLC raised its holdings in shares of Intrepid Potash by 1.5% during the third quarter. Great Lakes Advisors LLC now owns 785,891 shares of the basic materials company’s stock worth $2,570,000 after purchasing an additional 11,963 shares during the period. California Public Employees Retirement System raised its holdings in shares of Intrepid Potash by 18.1% during the third quarter. California Public Employees Retirement System now owns 131,247 shares of the basic materials company’s stock worth $429,000 after purchasing an additional 20,109 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in shares of Intrepid Potash by 49.5% during the third quarter. Municipal Employees Retirement System of Michigan now owns 150,820 shares of the basic materials company’s stock worth $493,000 after purchasing an additional 49,960 shares during the period. Rhumbline Advisers raised its holdings in shares of Intrepid Potash by 8.8% during the third quarter. Rhumbline Advisers now owns 154,377 shares of the basic materials company’s stock worth $505,000 after purchasing an additional 12,467 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Intrepid Potash during the third quarter worth $2,207,000. 43.06% of the stock is currently owned by institutional investors.

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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