Intertape Polymer Group (TSE:ITP) PT Raised to C$27.00 at Royal Bank of Canada

Intertape Polymer Group (TSE:ITP) had its price objective hoisted by Royal Bank of Canada from C$26.00 to C$27.00 in a report published on Friday, March 9th. They currently have an outperform rating on the stock.

Separately, Scotiabank upped their price objective on Intertape Polymer Group from C$26.00 to C$27.00 and gave the company an outperform rating in a research report on Tuesday, November 14th.

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Shares of Intertape Polymer Group stock traded down C$0.19 during trading hours on Friday, hitting C$20.52. The company’s stock had a trading volume of 211,735 shares, compared to its average volume of 179,987. Intertape Polymer Group has a 12-month low of C$17.49 and a 12-month high of C$25.41.

Intertape Polymer Group (TSE:ITP) last posted its earnings results on Thursday, March 8th. The company reported C$0.25 EPS for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.05). Intertape Polymer Group had a return on equity of 32.31% and a net margin of 7.92%. The firm had revenue of C$301.52 million during the quarter, compared to analysts’ expectations of C$301.80 million.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Tuesday, March 20th were paid a $0.18 dividend. The ex-dividend date was Monday, March 19th. This represents a $0.72 annualized dividend and a yield of 3.51%.

In other news, Director Melbourne F. Yull sold 10,400 shares of the stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of C$20.79, for a total transaction of C$216,216.00. Also, Director Melbourne F. Yull sold 13,700 shares of the stock in a transaction on Friday, March 23rd. The shares were sold at an average price of C$20.35, for a total value of C$278,795.00. In the last three months, insiders sold 44,100 shares of company stock worth $903,811.

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Intertape Polymer Group Company Profile

Intertape Polymer Group Inc, together with its subsidiaries, operates in the specialty packaging industry in Canada, the United States, and internationally. It develops, manufactures, and sells various paper and film based pressure sensitive and water activated tapes, polyethylene and specialized polyolefin films, woven coated fabrics, and complementary packaging systems for industrial and retail use.

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