Intrepid Potash (NYSE:IPI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $4.50 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective suggests a potential downside of 2.39% from the company’s previous close.

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 “

IPI has been the topic of several other reports. ValuEngine downgraded shares of Intrepid Potash from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Cowen raised shares of Intrepid Potash from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $3.56 to $3.75 in a research note on Monday, March 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Intrepid Potash currently has an average rating of “Hold” and an average target price of $3.75.

IPI stock opened at $4.61 on Thursday. Intrepid Potash has a one year low of $1.58 and a one year high of $5.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.77 and a current ratio of 3.28.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Tuesday, April 24th. The basic materials company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Intrepid Potash had a negative return on equity of 1.82% and a negative net margin of 4.60%. The firm had revenue of $38.57 million during the quarter, compared to analysts’ expectations of $35.48 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. research analysts forecast that Intrepid Potash will post 0.13 earnings per share for the current fiscal year.

In related news, major shareholder Clearway Capital Management Lt purchased 211,344 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $3.30 per share, for a total transaction of $697,435.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Jornayvaz III purchased 15,900 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was bought at an average price of $3.30 per share, for a total transaction of $52,470.00. Following the acquisition, the chief executive officer now owns 1,206,650 shares of the company’s stock, valued at $3,981,945. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 577,244 shares of company stock worth $2,077,905. 27.30% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC bought a new stake in Intrepid Potash in the fourth quarter valued at $106,000. Jane Street Group LLC bought a new stake in shares of Intrepid Potash during the 4th quarter valued at $118,000. LPL Financial LLC bought a new stake in shares of Intrepid Potash during the 4th quarter valued at $132,000. Two Sigma Investments LP boosted its holdings in shares of Intrepid Potash by 163.5% during the 4th quarter. Two Sigma Investments LP now owns 136,263 shares of the basic materials company’s stock valued at $649,000 after buying an additional 84,559 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Intrepid Potash by 140.0% during the 4th quarter. Deutsche Bank AG now owns 212,218 shares of the basic materials company’s stock valued at $1,009,000 after buying an additional 123,796 shares in the last quarter. Institutional investors and hedge funds own 46.80% of the company’s stock.

About Intrepid Potash

Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.

Get a free copy of the Zacks research report on Intrepid Potash (IPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Intrepid Potash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intrepid Potash and related companies with MarketBeat.com's FREE daily email newsletter.