Scotiabank set a C$60.00 target price on Winpak Ltd. (TSE:WPK) in a research report sent to investors on Friday morning. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on WPK. TD Securities downgraded Winpak from a buy rating to a hold rating and upped their price target for the company from C$58.00 to C$61.00 in a report on Monday, May 1st. Raymond James Financial, Inc. upped their price target on Winpak from C$51.00 to C$56.00 and gave the company an outperform rating in a report on Friday, April 21st. Finally, CIBC downgraded Winpak from an outperform rating to a neutral rating and set a C$60.00 price target on the stock. in a report on Tuesday, June 27th.

Shares of Winpak (TSE:WPK) opened at 53.53 on Friday. The stock’s 50 day moving average price is $57.56 and its 200 day moving average price is $53.96. Winpak has a 12 month low of $42.40 and a 12 month high of $61.43. The stock has a market capitalization of $3.48 billion and a price-to-earnings ratio of 32.72.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.03 per share. This is an increase from Winpak’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, September 29th.

About Winpak

Winpak Ltd. manufactures and distributes packaging materials and related packaging machines. The Company’s products are used for packaging of perishable foods, beverages and in healthcare applications. It operates through six segments: modified atmosphere packaging, specialty films, rigid containers, lidding, biaxially oriented nylon and packaging machinery.

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