Insider Buying: Intrepid Potash, Inc. (NYSE:IPI) Director Purchases $64,600.00 in Stock

Intrepid Potash, Inc. (NYSE:IPI) Director Hugh E. Harvey, Jr. bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $3.23 per share, for a total transaction of $64,600.00. Following the completion of the transaction, the director now directly owns 231,972 shares in the company, valued at approximately $749,269.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NYSE IPI opened at $3.02 on Friday. The firm’s 50-day moving average price is $3.43 and its 200-day moving average price is $3.53. 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 stock has a market capitalization of $428.89 million, a price-to-earnings ratio of 18.06 and a beta of 1.18. Intrepid Potash, Inc. has a 12-month low of $2.51 and a 12-month high of $4.41.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.04 earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $55.68 million. During the same period in the prior year, the company posted ($0.01) EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts predict that Intrepid Potash, Inc. will post 0.21 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of IPI. Investors Research Corp purchased a new stake in Intrepid Potash in the 1st quarter worth about $25,000. Squarepoint Ops LLC purchased a new stake in Intrepid Potash in the 4th quarter worth about $27,000. Bank of Montreal Can raised its position in Intrepid Potash by 49,843.8% in the 2nd quarter. Bank of Montreal Can now owns 7,991 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 7,975 shares during the period. Macquarie Group Ltd. purchased a new stake in Intrepid Potash in the 4th quarter worth about $35,000. Finally, Legal & General Group Plc raised its position in Intrepid Potash by 24.1% in the 4th quarter. Legal & General Group Plc now owns 18,218 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 3,533 shares during the period. 43.05% of the stock is currently owned by institutional investors.

Several brokerages have recently issued reports on IPI. ValuEngine cut shares of Intrepid Potash from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Intrepid Potash from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $4.92.

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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