Zacks Investment Research downgraded shares of Intrepid Potash (NYSE:IPI) from a buy rating to a hold rating in a research report released on Wednesday, 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 cut shares of Intrepid Potash from a sell rating to a strong sell rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $4.92.

Shares of NYSE IPI opened at $3.43 on Wednesday. Intrepid Potash has a 12-month low of $2.51 and a 12-month high of $4.41. The stock has a market cap of $452.66 million, a PE ratio of 38.11 and a beta of 1.23. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $3.25 and a 200 day moving average of $3.47.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. Intrepid Potash had a net margin of 10.78% and a return on equity of 5.52%. The company had revenue of $62.51 million during the quarter, compared to analysts’ expectations of $55.68 million. During the same quarter in the prior year, the company earned ($0.01) EPS. Intrepid Potash’s revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Intrepid Potash will post 0.2 EPS for the current fiscal year.

In other news, insider Robert P. Jornayvaz III purchased 39,500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was acquired at an average price of $2.84 per share, with a total value of $112,180.00. Following the purchase, the insider now directly owns 2,099,144 shares in the company, valued at approximately $5,961,568.96. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert P. Jornayvaz III purchased 10,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was purchased at an average cost of $2.90 per share, with a total value of $29,000.00. Following the purchase, the chief executive officer now owns 2,099,144 shares in the company, valued at $6,087,517.60. The disclosure for this purchase can be found here. In the last three months, insiders bought 121,896 shares of company stock valued at $364,099. Corporate insiders own 27.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC purchased a new stake in shares of Intrepid Potash in the 2nd quarter valued at approximately $5,339,000. D. E. Shaw & Co. Inc. grew its stake in shares of Intrepid Potash by 21.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 449,274 shares of the basic materials company’s stock valued at $1,509,000 after buying an additional 77,890 shares during the period. Marshall Wace LLP grew its stake in shares of Intrepid Potash by 15.1% in the 2nd quarter. Marshall Wace LLP now owns 1,034,678 shares of the basic materials company’s stock valued at $3,476,000 after buying an additional 135,696 shares during the period. Alberta Investment Management Corp grew its stake in shares of Intrepid Potash by 99.3% in the 2nd quarter. Alberta Investment Management Corp now owns 152,100 shares of the basic materials company’s stock valued at $511,000 after buying an additional 75,800 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Intrepid Potash by 45.7% in the 2nd quarter. AQR Capital Management LLC now owns 68,152 shares of the basic materials company’s stock valued at $229,000 after buying an additional 21,383 shares during the period. 42.62% of the stock is owned by institutional investors and hedge funds.

About Intrepid Potash

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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