Winpak (TSE:WPK) Stock Rating Lowered by Canadian Imperial Bank of Commerce

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

Several other equities analysts also recently commented on the stock. BMO Capital Markets boosted their price target on shares of Winpak from C$47.00 to C$52.00 and gave the stock a “market perform” rating in a research note on Tuesday. National Bank Financial lifted their target price on Winpak from C$47.00 to C$48.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$50.67.

Winpak Price Performance

Shares of WPK stock traded down C$1.87 during trading on Tuesday, reaching C$48.40. The company’s stock had a trading volume of 81,268 shares, compared to its average volume of 70,947. The company has a market capitalization of C$2.93 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 4.44 and a beta of 0.31. The stock’s 50-day moving average price is C$46.05 and its 200 day moving average price is C$43.61. Winpak has a 1-year low of C$37.57 and a 1-year high of C$52.24.

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.