Intertape Polymer Group (ITP) Trading 5.3% Higher

Intertape Polymer Group (TSE:ITP) shares traded up 5.3% during mid-day trading on Friday . The company traded as high as C$22.33 and last traded at C$22.32. 284,065 shares changed hands during trading, an increase of 138% from the average session volume of 119,579 shares. The stock had previously closed at C$21.19.

A number of research analysts have issued reports on the stock. Royal Bank of Canada decreased their target price 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 report on Tuesday, October 31st. Scotiabank increased their target price on shares of Intertape Polymer Group from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th.

The company has a market capitalization of $1,250.00, a PE ratio of 16.51 and a beta of 0.93.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.18 per share. This is a positive change from Intertape Polymer Group’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, December 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.21%. Intertape Polymer Group’s dividend payout ratio (DPR) is currently 41.18%.

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About Intertape Polymer Group

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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