Winpak Ltd. (WPK) Upgraded at CIBC
CIBC upgraded shares of Winpak Ltd. (TSE:WPK) from a neutral rating to an outperform rating in a research report sent to investors on Monday. They currently have C$55.00 target price on the stock, down from their previous target price of C$58.00.
Several other brokerages have also recently commented on WPK. Raymond James Financial, Inc. raised their target price on Winpak from C$56.00 to C$58.00 and gave the stock an outperform rating in a research report on Friday, July 21st. Scotiabank set a C$60.00 target price on Winpak and gave the stock an outperform rating in a research report on Friday, July 28th.
Shares of Winpak (TSE WPK) opened at 50.25 on Monday. The company has a market cap of $3.27 billion and a price-to-earnings ratio of 30.55. The firm’s 50-day moving average is $52.63 and its 200 day moving average is $55.09. Winpak has a 1-year low of $42.47 and a 1-year high of $61.43.
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The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be given a $0.03 dividend. This is a boost from Winpak’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Friday, September 29th.
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 Company Profile
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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