Winpak (TSE:WPK) Hits New 52-Week High Following Analyst Upgrade

Winpak Ltd. (TSE:WPK)’s stock price hit a new 52-week high during mid-day trading on Friday after BMO Capital Markets raised their price target on the stock from C$50.00 to C$52.00. The stock traded as high as C$48.88 and last traded at C$48.73, with a volume of 22293 shares. The stock had previously closed at C$47.32.

Other analysts have also issued reports about the company. CIBC lifted their price target on Winpak from C$49.00 to C$51.00 in a research note on Friday, July 26th. National Bank Financial upgraded shares of Winpak to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, National Bankshares set a C$55.00 price objective on shares of Winpak and gave the stock an “outperform” rating in a research report on Thursday, September 26th.

Winpak Trading Up 2.7 %

The business has a 50 day moving average of C$45.78 and a two-hundred day moving average of C$44.73. The firm has a market capitalization of C$3.06 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 4.44 and a beta of 0.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.69 and a current ratio of 8.95.

Winpak (TSE:WPK) last issued its earnings results on Thursday, July 25th. The company reported C$0.83 earnings per share for the quarter. The company had revenue of C$387.89 million for the quarter. Winpak had a return on equity of 10.62% and a net margin of 12.90%. Equities analysts predict that Winpak Ltd. will post 3.5432473 EPS for the current year.

Winpak Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, October 11th were paid a $0.05 dividend. The ex-dividend date was Tuesday, October 1st. This is an increase from Winpak’s previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a dividend yield of 0.41%. Winpak’s dividend payout ratio is 6.58%.

About Winpak

Winpak Ltd. manufactures and distributes packaging materials and related packaging machines in the United States, Canada, and Mexico. The company operates is Flexible Packaging, Rigid Packaging and Flexible Lidding, and Packaging Machinery segments. The Flexible Packaging segment provides modified atmosphere packaging products for fresh and processed meats, poultry, cheese, medical device packaging, high-performance pouch, and high-barrier films for converting applications; specialty films, including barrier and non-barrier films converting applications, such as printing, laminating and bag making, as well as shrink bags; and biaxially oriented nylon films for food packaging and industrial applications.