Intertape Polymer Group (ITP) Stock Price Down 4.6%

Intertape Polymer Group (TSE:ITP) shares were down 4.6% during trading on Friday . The stock traded as low as C$19.21 and last traded at C$19.38. Approximately 364,486 shares changed hands during trading, an increase of 37% from the average daily volume of 266,627 shares. The stock had previously closed at C$20.31.

A number of research analysts recently issued reports on the stock. Scotiabank lowered shares of Intertape Polymer Group from a “focus stock” rating to an “outperform” rating and lowered their target price for the company from C$29.00 to C$26.00 in a research note on Monday, August 14th. TD Securities lowered their target price on shares of Intertape Polymer Group from C$28.00 to C$26.00 in a research note on Monday, August 14th. Finally, Royal Bank Of Canada lowered their target price on shares of Intertape Polymer Group from C$29.00 to C$27.00 and set an “outperform” rating on the stock in a research note on Monday, August 14th.

The stock has a market cap of $1.15 billion and a price-to-earnings ratio of 22.36. The stock’s 50-day moving average price is $18.91 and its 200-day moving average price is $22.18.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.14 per share. This is a positive change from Intertape Polymer Group’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Thursday, September 14th.

In other news, insider Jeffrey Crystal purchased 9,500 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were purchased at an average cost of C$18.54 per share, with a total value of C$176,130.00. Insiders have acquired 16,000 shares of company stock worth $297,576 over the last ninety days.

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Intertape Polymer Group Company Profile

Intertape Polymer Group Inc operates in the specialty packaging industry. The Company develops, manufactures and sells a range of paper and film-based pressure sensitive and water activated tapes, polyethylene and specialized polyolefin packaging films, woven coated fabrics and complementary packaging systems for industrial and retail use.

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