Winpak Ltd. (WPK) Upgraded by CIBC to “Outperform”
CIBC upgraded shares of Winpak Ltd. (TSE:WPK) from a neutral rating to an outperform rating in a research note released on Monday morning. They currently have C$55.00 target price on the stock, down from their previous target price of C$58.00.
A number of other analysts have also weighed in on WPK. Scotiabank set a C$60.00 price objective on Winpak and gave the company an outperform rating in a research note on Friday, July 28th. Raymond James Financial, Inc. increased their price objective on Winpak from C$56.00 to C$58.00 and gave the company an outperform rating in a research note on Friday, July 21st.
Winpak (TSE:WPK) opened at 49.17 on Monday. The firm has a market cap of $3.20 billion and a P/E ratio of 29.89. The stock has a 50 day moving average of $53.08 and a 200-day moving average of $55.18. Winpak has a 12 month low of $42.47 and a 12 month high of $61.43.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, September 29th. This is a positive change from Winpak’s previous quarterly dividend of $0.02.
In related news, Director Timothy Lee Johnson sold 5,743 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of C$53.00, for a total value of C$304,379.00.
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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