IPL Plastics (TSE:IPLP) Trading Down 0.4% on Analyst Downgrade

IPL Plastics Inc (TSE:IPLP)’s stock price fell 0.4% on Thursday after National Bank Financial lowered their price target on the stock from C$14.00 to C$12.00. National Bank Financial currently has an outperform rating on the stock. IPL Plastics traded as low as C$8.98 and last traded at C$9.02, 9,960 shares were traded during mid-day trading. A decline of 77% from the average session volume of 42,657 shares. The stock had previously closed at C$9.06.

A number of other equities research analysts have also recently issued reports on the company. Laurentian lowered their price objective on IPL Plastics from C$17.25 to C$17.00 in a research note on Thursday. Royal Bank of Canada lowered their price objective on IPL Plastics from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research note on Thursday.

The business has a 50 day simple moving average of C$8.89. The firm has a market capitalization of $493.32 million and a P/E ratio of 322.14. The company has a current ratio of 2.11, a quick ratio of 1.34 and a debt-to-equity ratio of 109.25.

About IPL Plastics (TSE:IPLP)

IPL Plastics Inc, through its subsidiaries, provides various packaging solutions primarily in the United States, the United Kingdom, and Canada. It operates through three segments: Large Format Packaging and Environmental Solutions (LF&E), Consumer Packaging Solutions (CPS), and Returnable Packaging Solutions (RPS).

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