Opinions
Cole Kachur
Intertape Polymer Group Inc.
ITP-N
PAST TOP PICK
Aug 23, 2019
(A Top Pick Aug 09/18, Up 8%) Range-bound between $18-$20. Not sure what they need to break out. A mid to small cap name, so can move down pretty quickly in volatility.
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TOP PICK
75% of their manufacturing is in the US so the stronger Cdn$ wouldn’t affect them. Export about 50% to Canada. Takeover offer last year at $4.66 was turned down. Company had the first profit this last quarter since 2005, which is indicative of a turnaround. They are reducing debt.
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COMMENT
Wished he bought more when it went down last. They just had a bad quarter. It is on his buy list. When housing turns it should do well. CEO stepped down and son took over. Son seems to know what he is doing. Would like to see someone come out of the woodwork with a takeover bid.
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PAST TOP PICK
(A Top Pick Aug 7/12. Down 20%.) 2 weeks after the show, they reported very good earnings and paid back a bunch of debt and started paying a dividend. Suddenly it fell off a cliff and he didn’t know why. It turns out there was a big US seller. He is a little cautious right now and is waiting to see Q3 results. Thinks it should be okay.
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