Intertape Polymer Group Inc. (TSE:ITP) has earned an average rating of “Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$34.63.

Several brokerages have commented on ITP. National Bankshares boosted their price target on shares of Intertape Polymer Group from C$30.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Monday, March 15th. TD Securities boosted their target price on Intertape Polymer Group from C$30.00 to C$35.00 and gave the stock a “na” rating in a research report on Tuesday, March 16th. Pi Financial reissued a “buy” rating and set a C$36.00 price target on shares of Intertape Polymer Group in a research note on Friday, March 19th. National Bank Financial raised Intertape Polymer Group from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$27.00 to C$30.00 in a research note on Friday, March 5th. Finally, BMO Capital Markets increased their target price on Intertape Polymer Group from C$29.00 to C$35.00 and gave the company a “na” rating in a research report on Monday, March 15th.

In other news, Director Robert J. Foster sold 5,000 shares of the stock in a transaction on Monday, March 22nd. The shares were sold at an average price of C$29.12, for a total value of C$145,603.00. Following the sale, the director now owns 46,100 shares of the company’s stock, valued at C$1,342,459.66. Also, Director Robert J. Foster sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of C$30.00, for a total transaction of C$60,004.00. Following the completion of the sale, the director now owns 58,100 shares of the company’s stock, valued at approximately C$1,743,116.20.

TSE ITP traded down C$0.17 during trading hours on Tuesday, reaching C$31.03. The company’s stock had a trading volume of 105,494 shares, compared to its average volume of 238,404. Intertape Polymer Group has a 1 year low of C$10.10 and a 1 year high of C$31.73. The company has a quick ratio of 0.83, a current ratio of 1.72 and a debt-to-equity ratio of 155.99. The company has a market capitalization of C$1.83 billion and a price-to-earnings ratio of 20.69. The firm’s 50-day moving average price is C$28.93 and its 200-day moving average price is C$24.17.

Intertape Polymer Group (TSE:ITP) last released its quarterly earnings data on Friday, March 12th. The company reported C$0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.61 by C$0.09. The company had revenue of C$448.47 million for the quarter, compared to the consensus estimate of C$415.85 million. Equities research analysts anticipate that Intertape Polymer Group will post 1.8599998 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 31st were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 2.03%. This is a positive change from Intertape Polymer Group’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, March 19th. Intertape Polymer Group’s dividend payout ratio (DPR) is presently 40.00%.

Intertape Polymer Group Company Profile

Intertape Polymer Group Inc, together with its subsidiaries, provides packaging and protective solutions for the industrial markets in North America, Europe, and internationally. The company offers pressure-sensitive and water-activated tapes; packaging equipment; industrial and performance specialty tapes, such as masking, duct, electrical, foil, process indicator, sheathing, sports, and reinforced filament tapes; protective packaging solutions, including inflatable systems, mailer products, bubble cushioning, paper void fills, thermal solutions, and protective foam roll stocks; stencil products; shrink films; stretch and lumber wraps; structure and geomembrane fabrics; non-manufactured flexible intermediate bulk containers; polyethylene and specialized polyolefin films; and engineered coated products for industrial and retail use.

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Analyst Recommendations for Intertape Polymer Group (TSE:ITP)

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