Key Points
- Director Lori Lancaster sold 4,800 shares of Intrepid Potash on May 12 at an average price of $45.24, totaling about $217,152. After the sale, she still owned 10,540 shares, a 31.29% reduction in her holdings.
- Intrepid Potash recently reported strong quarterly results, posting EPS of $0.62 versus the $0.48 consensus and revenue of $98.69 million versus expectations of $88.30 million.
- Despite the earnings beat, analysts remain cautious: the stock currently has a consensus rating of “Reduce” with an average price target of $26.00, far below its recent trading price in the low $40s.
Intrepid Potash, Inc (NYSE:IPI - Get Free Report) Director Lori Lancaster sold 4,800 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $45.24, for a total value of $217,152.00. Following the completion of the transaction, the director directly owned 10,540 shares in the company, valued at $476,829.60. This represents a 31.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Intrepid Potash Price Performance
Shares of NYSE:IPI opened at $42.55 on Friday. The company has a market capitalization of $571.43 million, a price-to-earnings ratio of 40.14 and a beta of 1.25. The business's 50-day moving average is $40.57 and its 200-day moving average is $33.35. Intrepid Potash, Inc has a 1 year low of $22.55 and a 1 year high of $50.34.
Intrepid Potash (NYSE:IPI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.14. The company had revenue of $98.69 million for 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%. Analysts anticipate that Intrepid Potash, Inc will post 1.62 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. UBS Group boosted their price objective on Intrepid Potash from $25.00 to $26.00 and gave the company a "sell" rating in a research note on Thursday. Weiss Ratings raised Intrepid Potash from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $26.00.
Read Our Latest Research Report on Intrepid Potash
Institutional Trading of Intrepid Potash
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caxton Associates LLP bought a new stake in Intrepid Potash during the 1st quarter worth approximately $751,000. Sei Investments Co. bought a new position in shares of Intrepid Potash in the first quarter valued at approximately $992,000. Cetera Investment Advisers bought a new position in shares of Intrepid Potash in the first quarter valued at approximately $645,000. Baader Bank Aktiengesellschaft bought a new position in shares of Intrepid Potash in the first quarter valued at approximately $342,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Intrepid Potash by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 734,413 shares of the basic materials company's stock valued at $31,413,000 after acquiring an additional 16,813 shares in the last quarter. 56.13% of the stock is owned by institutional investors.
About Intrepid Potash
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Get Free Report)
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.
Further Reading
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