The stock of Intertape Polymer Group (TSE:ITP) hit a new 52-week high and has $27.69 target or 9.00% above today’s $25.40 share price. The 7 months bullish chart indicates low risk for the $1.53 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $27.69 price target is reached, the company will be worth $137.70M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 91,607 shares traded hands. Intertape Polymer Group (TSE:ITP) has risen 23.83% since April 27, 2016 and is uptrending. It has outperformed by 17.91% the S&P500.
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 -6.81% below today’s ($25.4) stock price. Intertape Polymer Group has been the topic of 10 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm has “Focus Stock” rating given on Wednesday, November 2 by Scotia Capital. TD Securities downgraded Intertape Polymer Group (TSE:ITP) rating on Friday, August 14. TD Securities has “Buy” rating and $19 price target. The rating was maintained by Scotia Capital with “Sector Outperform” on Friday, August 14. On Wednesday, November 18 the stock rating was maintained by RBC Capital Markets with “Outperform”.
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 Seekingalpha.com published the news titled: “Intertape Polymer Group Is Poised For Growth” on May 24, 2016. Seekingalpha.com‘s news article titled: “Intertape Polymer Group: Trying To Get Out Of The Funk” with publication date: August 12, 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 $1.53 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 24.47 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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