CIBC Upgrades Winpak (TSE:WPK) to “Outperform”

Winpak (TSE:WPK) was upgraded by equities researchers at CIBC from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a C$50.00 target price on the stock, up from their prior target price of C$49.00. CIBC’s price objective points to a potential upside of 16.69% from the stock’s previous close.

Winpak Stock Performance

Shares of Winpak stock opened at C$42.85 on Tuesday. The stock has a market capitalization of C$1.88 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 4.44 and a beta of 0.21. Winpak has a 52 week low of C$37.57 and a 52 week high of C$51.16. The stock has a 50 day moving average price of C$40.21 and a two-hundred day moving average price of C$44.63.

Winpak Company Profile

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.