Could Intertape Polymer Group Crash Even More? The Stock Had Another Big Decline Today

 Could Intertape Polymer Group Crash Even More? The Stock Had Another Big Decline Today

The stock of Intertape Polymer Group (TSE:ITP) is a huge mover today! About 115,735 shares traded hands. Intertape Polymer Group (TSE:ITP) has risen 22.01% since April 7, 2016 and is uptrending. It has outperformed by 15.86% the S&P500.
The move comes after 5 months negative chart setup for the $1.27B company. It was reported on Nov, 11 by Barchart.com. We have $20.39 PT which if reached, will make TSE:ITP worth $88.90 million less.

Intertape Polymer Group (TSE:ITP) Ratings Coverage

Out of 3 analysts covering Intertape Polymer Group (TSE:ITP), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $26 is the highest target while $19 is the lowest. The $23.67 average target is 7.93% above today’s ($21.93) stock price. Intertape Polymer Group has been the topic of 10 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Scotia Capital maintained the shares of ITP in a report on Friday, August 14 with “Sector Outperform” rating. RBC Capital Markets maintained it with “Outperform” rating and $22 target price in Wednesday, November 18 report. The stock has “Focus Stock” rating given by Scotia Capital on Wednesday, November 2. On Friday, August 14 the stock rating was downgraded by TD Securities to “Buy”.

More recent Intertape Polymer Group (TSE:ITP) news were published by: Bloomberg.com which released: “Intertape Polymer Group Targeted by FrontFour, Zelman Capital” on November 10, 2015. Also Reuters.com published the news titled: “BRIEF-Intertape Polymer Group agrees to buy majority ownership of Powerban…” on September 02, 2016. Seekingalpha.com‘s news article titled: “Intertape Polymer Group Is Poised For Growth” with publication date: May 24, 2016 was also an interesting one.

Intertape Polymer Group Inc. operates in the specialty packaging industry in North America. The company has a market cap of $1.27 billion. The Firm develops, makes and sells a range of paper and film pressure sensitive and water activated tapes, polyethylene and specialized polyolefin packaging films, woven coated fabrics and complementary packaging systems for industrial and retail use. It has a 17.56 P/E ratio. The Company’s products consist of carton sealing tapes, including pressure sensitive and water-activated tapes; industrial and performance specialty tapes, including masking, duct, electrical and reinforced filament tapes; shrink film; stretch wrap; lumberwrap, structure fabrics and geomembrane fabrics, and non-manufactured flexible intermediate bulk containers.

ITP.TO Company Profile

Intertape Polymer Group Inc., incorporated on August 31, 1993, operates in the specialty packaging industry in North America. The Firm develops, makes and sells a range of paper and film pressure sensitive and water activated tapes, polyethylene and specialized polyolefin packaging films, woven coated fabrics and complementary packaging systems for industrial and retail use. It operates in the United States, Canada and other countries.

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