Intertape Polymer Group (ITP) Given “Outperform” Rating at National Bank Financial

Intertape Polymer Group (TSE:ITP)‘s stock had its “outperform” rating restated by analysts at National Bank Financial in a research report issued to clients and investors on Monday. They currently have a C$23.00 price target on the stock. National Bank Financial’s target price would indicate a potential upside of 35.06% from the stock’s previous close.

Separately, Royal Bank of Canada raised their target price on Intertape Polymer Group from C$18.00 to C$20.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 15th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of C$21.67.

TSE ITP opened at C$17.03 on Monday. The company has a debt-to-equity ratio of 190.17, a quick ratio of 1.04 and a current ratio of 2.44. Intertape Polymer Group has a 1-year low of C$16.42 and a 1-year high of C$22.84.

Intertape Polymer Group (TSE:ITP) last released its quarterly earnings results on Thursday, November 8th. The company reported C$0.41 earnings per share for the quarter, beating the consensus estimate of C$0.29 by C$0.12. The firm had revenue of C$364.71 million for the quarter, compared to the consensus estimate of C$354.82 million. As a group, analysts forecast that Intertape Polymer Group will post 1.15000004085258 earnings per share for the current fiscal year.

In related news, insider Douglas Nalette sold 50,000 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of C$18.03, for a total value of C$901,500.00.

About Intertape Polymer Group

Intertape Polymer Group Inc, together with its subsidiaries, operates in the 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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