Intertape Polymer Group (TSE:ITP) Price Target Raised to C$21.50

Intertape Polymer Group (TSE:ITP) had its target price hoisted by National Bank Financial from C$21.00 to C$21.50 in a research note published on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Shares of Intertape Polymer Group stock opened at C$16.53 on Tuesday. The stock has a fifty day simple moving average of C$16.67 and a 200 day simple moving average of C$17.04. Intertape Polymer Group has a 12-month low of C$15.68 and a 12-month high of C$19.34. The company has a market capitalization of $1.00 billion and a P/E ratio of 24.31. The company has a current ratio of 2.26, a quick ratio of 0.96 and a debt-to-equity ratio of 211.73.

In related news, Senior Officer Douglas Nalette sold 32,500 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of C$16.50, for a total transaction of C$536,100.50. Following the completion of the sale, the insider now owns 127,803 shares in the company, valued at C$2,108,161.61. Also, Senior Officer Joseph Tocci sold 17,250 shares of the company’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of C$16.65, for a total value of C$287,126.25. Following the sale, the insider now owns 65,502 shares of the company’s stock, valued at approximately C$1,090,280.79.

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, protective packaging and engineered coated products, and complementary packaging systems for industrial and retail use.

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