Intertape Polymer Group

ITP-T

TSE:ITP

23.00
0.15 (0.66%)
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
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.)

COMMENT
COMMENT
December 7, 2016

They have done a great job under the new management team that came in in 2011. He is intrigued by the turnaround in the business, but is concerned that they are a number 2 player in a market dominated by MMM-N. It is liable to be crushed. It is also very cyclical and although the environment in the US is good right now, their margins would suffer in a downturn. The risk/reward is just not there for him.

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They have done a great job under the new management team that came in in 2011. He is intrigued by the turnaround in the business, but is concerned that they are a number 2 player in a market dominated by MMM-N. It is liable to be crushed. It is also very cyclical and although the environment in the US is good right now, their margins would suffer in a downturn. The risk/reward is just not there for him.

COMMENT
COMMENT
November 3, 2016

(Market Call Minute.) One of the smartest management teams in Canada. Terrific capital allocators. Got hurt by problems they could not foresee, but this is an interesting opportunity here.

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(Market Call Minute.) One of the smartest management teams in Canada. Terrific capital allocators. Got hurt by problems they could not foresee, but this is an interesting opportunity here.

TOP PICK
TOP PICK
October 26, 2016

Manufactures tape, plastics and packaging materials. About 90% of sales are in the US and Canada, but they’ve done a recent acquisition to get themselves into India, and are starting to expand more into Asian markets. They are projecting growth to go from about $780 million to $1.5 billion in the next 7 years. Dividend yield of 3.19%.

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Manufactures tape, plastics and packaging materials. About 90% of sales are in the US and Canada, but they’ve done a recent acquisition to get themselves into India, and are starting to expand more into Asian markets. They are projecting growth to go from about $780 million to $1.5 billion in the next 7 years. Dividend yield of 3.19%.

BUY
BUY
September 28, 2016

Just made a new high which is really positive. It has support at around $22.50. A long-term chart shows an upward movement from 2014. You could probably buy this pretty safely right now.

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Just made a new high which is really positive. It has support at around $22.50. A long-term chart shows an upward movement from 2014. You could probably buy this pretty safely right now.

TOP PICK
TOP PICK
September 14, 2016

Manufactures tape, some for packing, some for student, some for industrial applications. What they have been doing in the last few years is trying to lower costs by building new plants and closing down old ones. The lower natural gas prices didn’t hurt them either. They have an under levered balance sheet which they are using to their advantage by either increasing payout or acquiring things. Recently acquired a small company in India. Dividend yield of 3.24%.

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Manufactures tape, some for packing, some for student, some for industrial applications. What they have been doing in the last few years is trying to lower costs by building new plants and closing down old ones. The lower natural gas prices didn’t hurt them either. They have an under levered balance sheet which they are using to their advantage by either increasing payout or acquiring things. Recently acquired a small company in India. Dividend yield of 3.24%.

BUY
BUY
September 2, 2016

(Market Call Minute.) One of his larger holdings. Great valuation. Good price momentum. Great ROE’s. Reasonable valuation overall.

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(Market Call Minute.) One of his larger holdings. Great valuation. Good price momentum. Great ROE’s. Reasonable valuation overall.

TOP PICK
TOP PICK
August 26, 2016

There has been a major turnaround in this story. It was a company that was not well-managed and had a huge debt load. They have turned things around, doing it by one division, one plant at a time. Thinks they are going to capitalize by being in the right place at the right time. The majority of what they do is tapes. As more and more people go online, things are being shipped out in boxes that are going to have to be taped. They’ve a 5-year plan of doubling revenue, based all on organic growth. Dividend yield of 3.29%.

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There has been a major turnaround in this story. It was a company that was not well-managed and had a huge debt load. They have turned things around, doing it by one division, one plant at a time. Thinks they are going to capitalize by being in the right place at the right time. The majority of what they do is tapes. As more and more people go online, things are being shipped out in boxes that are going to have to be taped. They’ve a 5-year plan of doubling revenue, based all on organic growth. Dividend yield of 3.29%.

BUY
BUY
August 23, 2016

(Market Call Minute.) A very, very interesting name. A great growth story. They do tape which is a very stable business. Have a lot of cash to be able to go out and do things. Clean balance sheet.

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(Market Call Minute.) A very, very interesting name. A great growth story. They do tape which is a very stable business. Have a lot of cash to be able to go out and do things. Clean balance sheet.

COMMENT
COMMENT
July 7, 2016

(Market Call Minute.) He likes this company. They are making all kinds of good products, and doing better than the economy would suggest.

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(Market Call Minute.) He likes this company. They are making all kinds of good products, and doing better than the economy would suggest.

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