Intertape Polymer Group

ITP-T

TSE:ITP

15.60
0.25 (1.58%)
Intertape Polymer Group Inc. is a packaging products and systems company which supplies retailers and manufacturers, based in Montreal and Sarasota, Florida, with 17 locations, 12 manufacturing locations ...
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Analysis and Opinions about ITP-T

Signal
Opinion
Expert
COMMENT
COMMENT
January 15, 2018

A great little company that basically operates in an oligopoly with 3M's Scotch tape. With the move of Amazon and all the shipping, the amount of tape being sold is increasing. Instead of shipping in containers, stores are now shipping in small packages. A fine little growth company and has good management.

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A great little company that basically operates in an oligopoly with 3M's Scotch tape. With the move of Amazon and all the shipping, the amount of tape being sold is increasing. Instead of shipping in containers, stores are now shipping in small packages. A fine little growth company and has good management.

BUY
BUY
December 11, 2017

He has been looking at it carefully and almost pulling the trigger. Management has been making some good moves. They are launching new facilities and profits have to kick in. It is probably not a bad price right now. The last results were pretty good. They are a well managed company and the dividend is safe.

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He has been looking at it carefully and almost pulling the trigger. Management has been making some good moves. They are launching new facilities and profits have to kick in. It is probably not a bad price right now. The last results were pretty good. They are a well managed company and the dividend is safe.

COMMENT
COMMENT
November 29, 2017

He really likes management. The dividend is safe. This business grows at about GDP. If they are able to create low cost capacity, they may be able to increase their market share slightly, but the free cash flow yield on this is relatively high. To him, the right price is below $20.

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He really likes management. The dividend is safe. This business grows at about GDP. If they are able to create low cost capacity, they may be able to increase their market share slightly, but the free cash flow yield on this is relatively high. To him, the right price is below $20.

WATCH
WATCH
November 16, 2017

It is a well run company. They had a hiccup with one of their plants. At some point the dividend will go up. He likes the management team.

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It is a well run company. They had a hiccup with one of their plants. At some point the dividend will go up. He likes the management team.

COMMENT
COMMENT
November 3, 2017

A very established company. It’s been around forever. Bought it years ago at about $3-$4, and ran it up to about $20. He likes management. Has zero interest in it now. Almost everything he buys is under $10.

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A very established company. It’s been around forever. Bought it years ago at about $3-$4, and ran it up to about $20. He likes management. Has zero interest in it now. Almost everything he buys is under $10.

BUY
BUY
October 25, 2017

In packaging goods, and they have competition. It came down in the 2nd quarter over the summer, when there really wasn’t much volume, so earnings were not great. He’s been buying shares over the last couple of months. It’s a growing company that is going through some growing pains, to get to the next level.

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In packaging goods, and they have competition. It came down in the 2nd quarter over the summer, when there really wasn’t much volume, so earnings were not great. He’s been buying shares over the last couple of months. It’s a growing company that is going through some growing pains, to get to the next level.

PAST TOP PICK
PAST TOP PICK
October 25, 2017

(A Top Pick Oct 26/16. Down 9.85%.) Hadn’t had great earnings and it was a light volume market, so the sellers piled on. It seems to have solidified at $18 and grinding its way higher. This is something you can buy and hold and there should be some pretty decent growth.

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(A Top Pick Oct 26/16. Down 9.85%.) Hadn’t had great earnings and it was a light volume market, so the sellers piled on. It seems to have solidified at $18 and grinding its way higher. This is something you can buy and hold and there should be some pretty decent growth.

DON'T BUY
DON'T BUY
October 17, 2017

He wouldn’t be a buyer. The closing price was $18.89, and he has a model price of $22.78, only a 20% upside. It is trading at EBV 5, a very expensive valuation. There was a negative transit back in August, and it is really struggling under that. He senses that there is a little bad news happening in the future.

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He wouldn’t be a buyer. The closing price was $18.89, and he has a model price of $22.78, only a 20% upside. It is trading at EBV 5, a very expensive valuation. There was a negative transit back in August, and it is really struggling under that. He senses that there is a little bad news happening in the future.

BUY
BUY
October 16, 2017

Trading at $25 a few months ago and dropped down to the $19 range. He is hoping it can go back up to $25 and much higher. They warned last quarter that this was going to be a tougher year. Juggling a lot of projects and a lot of them are not delivering cash flows. They buy a lot of plastic and chemicals, and with the hurricanes in Texas and Florida, it has pushed up some input prices. They won’t be able to pass that off to customers in the short term. Expects an ugly Q3, but hopefully there will be some good communication and messaging that things are improving. For long-term investors, this is a good opportunity.

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Trading at $25 a few months ago and dropped down to the $19 range. He is hoping it can go back up to $25 and much higher. They warned last quarter that this was going to be a tougher year. Juggling a lot of projects and a lot of them are not delivering cash flows. They buy a lot of plastic and chemicals, and with the hurricanes in Texas and Florida, it has pushed up some input prices. They won’t be able to pass that off to customers in the short term. Expects an ugly Q3, but hopefully there will be some good communication and messaging that things are improving. For long-term investors, this is a good opportunity.

TOP PICK
TOP PICK
October 3, 2017

Makes tapes and fabrics, and was hit by rising prices for polypropylene. The stock took an enormous dip, and this is a tremendous entry point. It is a temporary problem.

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Makes tapes and fabrics, and was hit by rising prices for polypropylene. The stock took an enormous dip, and this is a tremendous entry point. It is a temporary problem.

COMMENT
COMMENT
September 22, 2017

Technically, this is not showing too much hope. Chart shows it has completed a double top pattern, and has broken down and is in a downward trend. Also, its momentum is negative. Using technical analysis, your downside risk is probably fairly minimal at these levels. At the same time, technicals do not favour an upside move in the short term.

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Technically, this is not showing too much hope. Chart shows it has completed a double top pattern, and has broken down and is in a downward trend. Also, its momentum is negative. Using technical analysis, your downside risk is probably fairly minimal at these levels. At the same time, technicals do not favour an upside move in the short term.

COMMENT
COMMENT
September 6, 2017

Chart shows an old wall of resistance at around $20, which became support. It now looks to be breaking that support level, which is a bit of a bearish position. They will probably get back into the $15 range, especially if the markets get a bit soft. If he owned it, he might be tempted to Sell.

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Chart shows an old wall of resistance at around $20, which became support. It now looks to be breaking that support level, which is a bit of a bearish position. They will probably get back into the $15 range, especially if the markets get a bit soft. If he owned it, he might be tempted to Sell.

COMMENT
COMMENT
August 29, 2017

This has been the turnaround story. They had a kind of poorish quarter recently resulting in a pretty good pullback in the price, which is not justified, as they are still guiding for good earnings growth in 2017, and more in 2018. No one likes to see companies give guidance and then pull it back. It’s in the penalty box, but you are getting a great yield. Smart management.

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This has been the turnaround story. They had a kind of poorish quarter recently resulting in a pretty good pullback in the price, which is not justified, as they are still guiding for good earnings growth in 2017, and more in 2018. No one likes to see companies give guidance and then pull it back. It’s in the penalty box, but you are getting a great yield. Smart management.

WAIT
WAIT
August 25, 2017

It is an industrial with seasonal strength from mid-October until the end of the year. It is now below its trading range and is trending down. It is not as clear this year if seasonality is going to work. It will take time to repair the technical damage that has been done. Re-examine it at the end of October. You will probably be okay if you own it now.

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It is an industrial with seasonal strength from mid-October until the end of the year. It is now below its trading range and is trending down. It is not as clear this year if seasonality is going to work. It will take time to repair the technical damage that has been done. Re-examine it at the end of October. You will probably be okay if you own it now.

BUY
BUY
August 22, 2017

It had a lot of structural, cost and debt issues. They changed it all, paying and raising the dividend. Now it is an income stock that is tied to the North American economy. Their last couple of quarters were a little disappointing. He would not worry about it, though.

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It had a lot of structural, cost and debt issues. They changed it all, paying and raising the dividend. Now it is an income stock that is tied to the North American economy. Their last couple of quarters were a little disappointing. He would not worry about it, though.

HOLD
HOLD
August 22, 2017

They came a little ‘unglued’ this quarter. If you have a bad quarter this market takes out and shoots you. He likes their industrial line. He thinks they will benefit from an increase in housing. You might even double down.

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They came a little ‘unglued’ this quarter. If you have a bad quarter this market takes out and shoots you. He likes their industrial line. He thinks they will benefit from an increase in housing. You might even double down.

HOLD
HOLD
August 16, 2017

A tape manufacturer, so they are going to follow a lot of what is going on with industrial packaging. A pretty well-managed company. In an environment where industrial activity and economies are improving, this company should do well.

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A tape manufacturer, so they are going to follow a lot of what is going on with industrial packaging. A pretty well-managed company. In an environment where industrial activity and economies are improving, this company should do well.

TOP PICK
TOP PICK
July 6, 2017

This has tapes of all kinds. Industrial uses, home uses. But obviously they also make the tapes that bind boxes that go from Amazon (AMZN-Q), which is a growth area. They’ve done a good job of controlling costs in the last few years and consolidating their operations. Now doing some tuck in acquisitions in India, etc. for testing new markets. There is probably 20% upside over the next 12-18 months. Dividend yield of 3%. (Analysts’ price target is $29.)

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This has tapes of all kinds. Industrial uses, home uses. But obviously they also make the tapes that bind boxes that go from Amazon (AMZN-Q), which is a growth area. They’ve done a good job of controlling costs in the last few years and consolidating their operations. Now doing some tuck in acquisitions in India, etc. for testing new markets. There is probably 20% upside over the next 12-18 months. Dividend yield of 3%. (Analysts’ price target is $29.)

COMMENT
COMMENT
June 28, 2017

There is no problem at this level. The balance sheet is in good shape. Currently it is a neutral for him, partly because Price momentum has been sideways. The value is also sideways. Expensive on a free cash flow basis and on a BV basis. If it had a few more good quarters and started showing more cash flow, it would probably end up on the Buy side for him. Dividend yield of about 3%.

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There is no problem at this level. The balance sheet is in good shape. Currently it is a neutral for him, partly because Price momentum has been sideways. The value is also sideways. Expensive on a free cash flow basis and on a BV basis. If it had a few more good quarters and started showing more cash flow, it would probably end up on the Buy side for him. Dividend yield of about 3%.

PAST TOP PICK
PAST TOP PICK
June 13, 2017

(A Top Pick June 6/16. Up 27.84%.) He still likes this. It is involved in packaging and labelling, more in industrial and commercial tapes. As more people shop online, all those boxes shipped have to be taped. Trading at a cheap valuation and generates gobs of cash. Has a very nice dividend yield, and has plans to double its revenue over the next 5 years.

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(A Top Pick June 6/16. Up 27.84%.) He still likes this. It is involved in packaging and labelling, more in industrial and commercial tapes. As more people shop online, all those boxes shipped have to be taped. Trading at a cheap valuation and generates gobs of cash. Has a very nice dividend yield, and has plans to double its revenue over the next 5 years.

DON'T BUY
DON'T BUY
May 18, 2017

In 2009, this was pretty near bankruptcy. They’ve done a nice job. Have improved their operations. Return on Capital has improved to almost 6%. Unfortunately though, he can’t support the valuation.

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In 2009, this was pretty near bankruptcy. They’ve done a nice job. Have improved their operations. Return on Capital has improved to almost 6%. Unfortunately though, he can’t support the valuation.

TOP PICK
TOP PICK
April 17, 2017

Everything that is shipped has to be professionally taped. They have done a good job of taking their market share and expanding outside of Canada and the US. Great dividend that has grown many years in a row. (Analysts’ target: $27.75).

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Everything that is shipped has to be professionally taped. They have done a good job of taking their market share and expanding outside of Canada and the US. Great dividend that has grown many years in a row. (Analysts’ target: $27.75).

COMMENT
COMMENT
April 12, 2017

Doesn’t follow this closely, because it is a smaller cap name. A packaging company. Generally speaking, it is a pretty well-run company. There is a cyclicality to it. Thinks they are ramping up a new plant. You could probably hold this long-term to get industrial exposure. Well-managed.

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Doesn’t follow this closely, because it is a smaller cap name. A packaging company. Generally speaking, it is a pretty well-run company. There is a cyclicality to it. Thinks they are ramping up a new plant. You could probably hold this long-term to get industrial exposure. Well-managed.

PAST TOP PICK
PAST TOP PICK
April 11, 2017

(A Top Pick Oct 26/16. Up 4%.) This was up in the $27 range, but came back down when they were a little light on earnings. They have a tax issue where they had to refile, but it didn’t cause any changes to the overall structure. He thinks this could go to the $28-$29 range.

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(A Top Pick Oct 26/16. Up 4%.) This was up in the $27 range, but came back down when they were a little light on earnings. They have a tax issue where they had to refile, but it didn’t cause any changes to the overall structure. He thinks this could go to the $28-$29 range.

HOLD
HOLD
March 22, 2017

Packaging, but in products that are a lot more commoditized than some of the others. Management has done a great job turning the company around. Up against some 800 pound gorillas such as 3M. They are looking for “value added” products to launch in small acquisitions. They are modernizing and expanding some of the plants. Not a cheap stock, but thinks management is going to succeed.

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Packaging, but in products that are a lot more commoditized than some of the others. Management has done a great job turning the company around. Up against some 800 pound gorillas such as 3M. They are looking for “value added” products to launch in small acquisitions. They are modernizing and expanding some of the plants. Not a cheap stock, but thinks management is going to succeed.

TOP PICK
TOP PICK
March 20, 2017

This basically makes tapes. Designs things like Scotch tape, as well as making a lot of tape for industrial use, and for e-commerce. They control costs partially by phasing out older plants and building bigger and more efficient ones. Stock has been a little flat in the last couple of months because of flooding in one of their new plants, but that is fading away now. Dividend yield of 3.3%. (Analysts’ price target is $27.75.)

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This basically makes tapes. Designs things like Scotch tape, as well as making a lot of tape for industrial use, and for e-commerce. They control costs partially by phasing out older plants and building bigger and more efficient ones. Stock has been a little flat in the last couple of months because of flooding in one of their new plants, but that is fading away now. Dividend yield of 3.3%. (Analysts’ price target is $27.75.)

COMMENT
COMMENT
March 1, 2017

Just announced a misstatement in earnings in the last few years. The good news is, it doesn’t seem to be material. It didn’t affect their adjusted EBITDA or their cash flow, but made a mistake on their adjusted earnings number. The company is in the right space manufacturing tape and other film products, and benefiting so much from the e-commerce economy. A great dividend and generates a lot of free cash flow. Trades at a discount to some of its peers. They’ve started to expand outside North America. He is very positive on the long-term outlook.

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Just announced a misstatement in earnings in the last few years. The good news is, it doesn’t seem to be material. It didn’t affect their adjusted EBITDA or their cash flow, but made a mistake on their adjusted earnings number. The company is in the right space manufacturing tape and other film products, and benefiting so much from the e-commerce economy. A great dividend and generates a lot of free cash flow. Trades at a discount to some of its peers. They’ve started to expand outside North America. He is very positive on the long-term outlook.

COMMENT
COMMENT
January 26, 2017

Has owned this in the past, but got stopped out sometime last year. A Canadian name that has a bit of a lower volatility profile, so it’s one you would want to own for a long time. They have a lot of US business.

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Has owned this in the past, but got stopped out sometime last year. A Canadian name that has a bit of a lower volatility profile, so it’s one you would want to own for a long time. They have a lot of US business.

COMMENT
COMMENT
January 12, 2017

A great business with a great dividend. They are a bit of a price taker with 3M, which is his only knock against the company. However, they are offsetting that with a lot of operational improvements and some of the new plants they are putting into operation. They’ve made a few acquisitions including a recent one in India.

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A great business with a great dividend. They are a bit of a price taker with 3M, which is his only knock against the company. However, they are offsetting that with a lot of operational improvements and some of the new plants they are putting into operation. They’ve made a few acquisitions including a recent one in India.

TOP PICK
TOP PICK
December 8, 2016

Makes all kinds of different tapes for packaging, but also has leverage to e-commerce with the growth in shipping. Has a lot of business in the US, and have been building new plants to lower costs and improve efficiencies. Their transition has not been smooth, having been hit by a flood and just coming out of it. When they get the plant running well, they are going to have a cost advantage and a lot more capacity. Dividend yield of 3.06%. (Analysts’ price target is $27.25.)

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Makes all kinds of different tapes for packaging, but also has leverage to e-commerce with the growth in shipping. Has a lot of business in the US, and have been building new plants to lower costs and improve efficiencies. Their transition has not been smooth, having been hit by a flood and just coming out of it. When they get the plant running well, they are going to have a cost advantage and a lot more capacity. Dividend yield of 3.06%. (Analysts’ price target is $27.25.)

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