Intertape Polymer Group’s (ITP) Buy Rating Reiterated at TD Securities

Intertape Polymer Group (TSE:ITP)‘s stock had its “buy” rating reissued by research analysts at TD Securities in a research report issued on Monday. They presently have a C$23.00 target price on the stock. TD Securities’ price target indicates a potential upside of 35.21% from the company’s previous close.

Several other brokerages have also commented on ITP. National Bank Financial set a C$23.00 price target on shares of Intertape Polymer Group and gave the company an “outperform” rating in a research note on Monday. Royal Bank of Canada raised their price target on shares of Intertape Polymer Group from C$18.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 15th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of C$21.67.

Shares of TSE:ITP traded up C$0.12 during trading hours on Monday, hitting C$17.01. The stock had a trading volume of 154,627 shares, compared to its average volume of 165,668. Intertape Polymer Group has a 1-year low of C$16.42 and a 1-year high of C$22.84. The company has a debt-to-equity ratio of 190.17, a quick ratio of 1.04 and a current ratio of 2.44.

In other news, insider Douglas Nalette sold 50,000 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were 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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