Winpak (TSE:WPK) Downgraded by National Bankshares to Sector Perform

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.

Winpak (TSE:WPK - Get Free Report) was downgraded by equities researchers at National Bankshares from an "outperform" rating to a "sector perform" rating in a note issued to investors on Friday,BayStreet.CA reports. They presently have a C$48.00 target price on the stock, down from their previous target price of C$52.00. National Bankshares' price objective points to a potential upside of 18.40% from the company's current price.

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

Winpak Stock Down 5.8%

TSE:WPK traded down C$2.49 during mid-day trading on Friday, hitting C$40.54. 145,331 shares of the stock traded hands, compared to its average volume of 56,901. The stock has a market capitalization of C$1.78 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 4.44 and a beta of 0.21. The firm's 50 day moving average is C$44.67 and its two-hundred day moving average is C$42.79. Winpak has a 52 week low of C$37.57 and a 52 week high of C$51.16.

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.

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