Winpak (TSE:WPK) Downgraded to “Neutral” Rating by Canadian Imperial Bank of Commerce

Winpak (TSE:WPK) was downgraded by research analysts at Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a report released on Tuesday,BayStreet.CA reports. They presently have a C$52.00 target price on the stock, down from their prior target price of C$53.00. Canadian Imperial Bank of Commerce’s price objective suggests a potential upside of 7.44% from the company’s previous close.

A number of other research analysts have also issued reports on the company. National Bank Financial increased their target price on Winpak from C$47.00 to C$48.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. BMO Capital Markets increased their price objective on shares of Winpak from C$47.00 to C$52.00 and gave the company a “market perform” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Winpak has a consensus rating of “Hold” and an average price target of C$50.67.

Winpak Price Performance

WPK stock traded down C$1.87 during mid-day trading on Tuesday, reaching C$48.40. 81,268 shares of the company’s stock were exchanged, compared to its average volume of 70,947. Winpak has a 12-month low of C$37.57 and a 12-month high of C$52.24. The stock’s 50 day moving average is C$46.05 and its 200 day moving average is C$43.61. The company has a market cap of C$2.93 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 4.44 and a beta of 0.31.

About Winpak

Winpak’s vision is to provide the best packaging solutions for people and planet. Winpak manufactures and distributes high-quality packaging materials and innovative packaging machines, primarily used for the protection of perishable foods, beverages, pharmaceuticals, medical and personal care. Winpak specializes in three main streams of packaging – Flexible Packaging, Rigid Packaging & Lidding, and Packaging Machinery. The Company is closely aligned with Wipak, one of Europe’s leading manufacturers of packaging materials.