Winpak (TSE:WPK) Rating Increased to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of Winpak (TSE:WPK - Free Report) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Separately, CIBC upgraded shares of Winpak from a "neutral" rating to an "outperform" rating and upped their price target for the company from C$49.00 to C$50.00 in a research report on Tuesday.

Winpak Price Performance

WPK stock traded down C$0.20 during trading on Tuesday, reaching C$42.42. 33,066 shares of the company were exchanged, compared to its average volume of 63,821. The company has a market capitalization 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 company has a 50-day moving average of C$40.21 and a two-hundred day moving average of C$44.60. Winpak has a twelve month low of C$37.57 and a twelve month high of C$51.16.

Winpak Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, April 11th were issued a $0.05 dividend. 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.