Intertape Polymer Group (ITP) Sees Unusually-High Trading Volume

Intertape Polymer Group (TSE:ITP) saw strong trading volume on Friday . 150,273 shares changed hands during trading, a decline of 6% from the previous session’s volume of 160,363 shares.The stock last traded at C$17.49 and had previously closed at C$17.79.

A number of equities analysts have weighed in on the stock. Cormark cut their price target on shares of Intertape Polymer Group from C$24.50 to C$21.00 in a research note on Friday, May 11th. TD Securities cut their price target on shares of Intertape Polymer Group from C$28.00 to C$26.00 and set a “buy” rating on the stock in a research note on Friday, May 11th. CSFB reaffirmed a “c$16.99” rating and set a C$17.00 price target on shares of Intertape Polymer Group in a research note on Thursday, July 19th. Finally, Scotiabank cut their price target on shares of Intertape Polymer Group from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research note on Monday, May 14th.

Intertape Polymer Group (TSE:ITP) last issued its earnings results on Thursday, May 10th. The company reported C$0.24 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.32 by C($0.08). Intertape Polymer Group had a net margin of 7.92% and a return on equity of 32.31%. The business had revenue of C$299.89 million during the quarter, compared to analysts’ expectations of C$304.50 million.

In other news, Director George J. Bunze sold 10,000 shares of the firm’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of C$18.98, for a total value of C$189,800.00. Also, Director James Pantelidis bought 4,000 shares of the business’s stock in a transaction dated Tuesday, May 15th. The stock was acquired at an average cost of C$14.13 per share, for a total transaction of C$56,520.00.

Intertape Polymer Group Company Profile

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.

Recommended Story: What are CEFs?

Receive News & Ratings for Intertape Polymer Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intertape Polymer Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply