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Is Stephens Getting More Bullish on Intrepid Potash?

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Intrepid Potash

Intrepid Potash (IPI) reported its earnings on April 24 before the market opened. The company reported EPS (earnings per share) of $0.01, missing the analyst estimate of $0.02 per share. The stock closed at $4.09 and is trading almost 1.4% lower since the company reported its earnings.

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Analyst ratings

The current consensus mean rating for Intrepid Potash stood at 3.0 with an overall “hold” recommendation on the stock for the next 12 months. The ratings changed from 3.4 a month ago, indicating a relative bullishness on the stock in the current month.

Unlike last month, one analyst now has a “strong buy,” which appears to have transitioned from a “hold” as we see in the above chart. Consequently, two analysts now have a “hold” recommendation compared to three a month ago. Also, two analysts continued to have a “sell” recommendation for the next 12 months. On May 9, Stephens upgraded the company to “overweight” from “equal weight.” Compared to Nutrien (NTR) (POT) and Mosaic (MOS), Intrepid Potash has a smaller footprint.

Price target

The current consensus (MOO) mean price target for Intrepid Potash stood at $3.96, which was slightly lower than the company’s closing of $4.09 on May 10. However, the median price target was much lower at $3.88, a 5.1% downside from its closing on May 10.

On April 26, Stephens also raised its price target on Intrepid Potash to $5 from $3.75, a 33% increase.

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