Lori Lancaster Sells 4,800 Shares of Intrepid Potash (NYSE:IPI) Stock

Intrepid Potash, Inc (NYSE:IPI) Director Lori Lancaster sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $45.24, for a total value of $217,152.00. Following the transaction, the director owned 10,540 shares of the company’s stock, valued at approximately $476,829.60. This represents a 31.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intrepid Potash Stock Down 1.6%

Shares of Intrepid Potash stock opened at $41.94 on Friday. The company has a market cap of $563.19 million, a PE ratio of 39.56 and a beta of 1.25. The business has a 50 day moving average of $40.69 and a 200 day moving average of $33.41. Intrepid Potash, Inc has a 52 week low of $22.55 and a 52 week high of $50.34.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The company had revenue of $98.69 million during the quarter, compared to the consensus estimate of $88.30 million. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%. On average, research analysts anticipate that Intrepid Potash, Inc will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IPI. Weiss Ratings upgraded Intrepid Potash from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. UBS Group increased their price objective on Intrepid Potash from $25.00 to $26.00 and gave the stock a “sell” rating in a report on Thursday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $26.00.

Hedge Funds Weigh In On Intrepid Potash

A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Intrepid Potash by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock worth $193,000 after purchasing an additional 312 shares in the last quarter. Peapod Lane Capital LLC raised its holdings in Intrepid Potash by 0.7% in the fourth quarter. Peapod Lane Capital LLC now owns 46,086 shares of the basic materials company’s stock worth $1,278,000 after purchasing an additional 339 shares in the last quarter. Glenorchy Capital Ltd raised its holdings in Intrepid Potash by 0.6% in the fourth quarter. Glenorchy Capital Ltd now owns 59,032 shares of the basic materials company’s stock worth $1,637,000 after purchasing an additional 355 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Intrepid Potash by 197.8% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 544 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Intrepid Potash by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 607 shares in the last quarter. Institutional investors own 56.13% of the company’s stock.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.