Jennings Capital Initiates Coverage on Intertape (ITP)
Separately, analysts at TD Securities initiated coverage on shares of Intertape in a research note on Thursday. They set a “buy” rating and a C$18.50 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of C$17.75.
Intertape (TSE:ITP) traded down 1.64% on Friday, hitting $14.40. 186,298 shares of the company’s stock traded hands. Intertape has a 52 week low of $11.12 and a 52 week high of $15.62. The stock’s 50-day moving average is $13.46 and its 200-day moving average is $12.69. The company has a market cap of $878.5 million and a price-to-earnings ratio of 8.87.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.28%.
Intertape Polymer Group Inc (TSE:ITP) operates in the specialty packaging industry.
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