Winpak (TSE:WPK) Cut to "Sector Perform" at National Bankshares

Key Points

• Winpak (TSE:WPK) was downgraded from an "outperform" to a "sector perform" rating by National Bankshares, with a new target price of C$48.00, down from C$52.00.
• Following the downgrade, Winpak's stock price fell 5.8% to C$40.54 during mid-day trading on Friday, with a market capitalization of C$1.78 billion.
• Despite the downgrade from National Bankshares, CIBC World Markets recently upgraded Winpak from a "hold" to a "strong-buy" rating, raising their price target to C$52.00.
• Winpak manufactures packaging materials and machinery primarily for perishable foods, beverages, and healthcare applications, operating in three market segments.

National Bankshares cut shares of Winpak (TSE:WPK - Free Report) from an outperform rating to a sector perform rating in a research report released on Friday,BayStreet.CA reports. They currently have C$48.00 price objective on the stock, down from their prior price objective of C$52.00.

WPK has been the subject of several other research reports. Cibc World Mkts raised Winpak from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. CIBC upped their target price on Winpak from C$50.00 to C$52.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th.

Winpak Stock Up 0.2%

Winpak stock traded up C$0.08 during midday trading on Friday, reaching C$40.88. The stock had a trading volume of 78,022 shares, compared to its average volume of 57,830. The firm's 50-day moving average price is C$44.54 and its 200 day moving average price is C$42.69. Winpak has a 12 month low of C$37.57 and a 12 month high of C$51.16. The firm has a market capitalization of C$1.79 billion, a PE ratio of 12.32, a P/E/G ratio of 4.44 and a beta of 0.21.

Winpak Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, July 11th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, July 2nd. Winpak's dividend payout ratio (DPR) is presently 6.03%.

About Winpak

Winpak Ltd manufactures and sells a variety of packaging materials and related packaging machines. The packaging materials are used primarily for perishable foods, beverages, and healthcare applications. It operates in three segments: flexible packaging, rigid packaging & flexible lidding, and packaging machinery.