Winpak (TSE:WPK) Upgraded by CIBC to "Outperform" Rating

CIBC upgraded shares of Winpak (TSE:WPK - Free Report) from a neutral rating to an outperform rating in a report published on Tuesday morning,BayStreet.CA reports. CIBC currently has C$50.00 price objective on the stock, up from their previous price objective of C$49.00.

Winpak Stock Performance

Shares of Winpak stock traded down C$0.20 during trading hours on Tuesday, hitting C$42.42. The company's stock had a trading volume of 33,066 shares, compared to its average volume of 63,821. The stock has a market cap of C$1.86 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 4.44 and a beta of 0.21. The firm has a fifty day moving average of C$40.21 and a 200-day moving average of C$44.59. Winpak has a twelve month low of C$37.57 and a twelve month high of C$51.16.

Winpak Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, April 11th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.20 annualized dividend and a yield of 0.47%. Winpak's payout ratio is 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.