Intertape Polymer Group (TSE:ITP) Director James Pantelidis Purchases 5,000 Shares

Intertape Polymer Group (TSE:ITP) Director James Pantelidis purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was bought at an average price of C$17.40 per share, for a total transaction of C$87,000.00. Following the purchase, the director now owns 31,500 shares in the company, valued at approximately C$548,100.

ITP traded down C$0.17 on Tuesday, reaching C$17.18. The company had a trading volume of 95,857 shares, compared to its average volume of 144,115. Intertape Polymer Group has a fifty-two week low of C$14.60 and a fifty-two week high of C$19.97. The stock has a market cap of $1.02 billion and a P/E ratio of 27.27. The company’s fifty day moving average is C$18.26 and its 200 day moving average is C$18.36. The company has a debt-to-equity ratio of 220.25, a quick ratio of 1.05 and a current ratio of 2.52.

Intertape Polymer Group (TSE:ITP) last announced its earnings results on Thursday, August 8th. The company reported C$0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.25 by C$0.04. The business had revenue of C$395.43 million for the quarter, compared to analyst estimates of C$395.37 million. On average, sell-side analysts expect that Intertape Polymer Group will post 1.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, September 13th. This is a positive change from Intertape Polymer Group’s previous quarterly dividend of $0.19. Intertape Polymer Group’s dividend payout ratio is presently 88.89%.

A number of research analysts recently commented on the stock. BMO Capital Markets 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 Friday, June 28th. Cormark decreased their price target on shares of Intertape Polymer Group from C$23.00 to C$21.50 in a research note on Friday, August 9th. Finally, National Bank Financial upped their price target on shares of Intertape Polymer Group from C$21.50 to C$22.50 and gave the company an “outperform” rating in a research note on Friday, August 9th.

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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