Winpak Ltd. (WPK) Downgraded by GMP Securities

GMP Securities cut shares of Winpak Ltd. (TSE:WPK) from a buy rating to a hold rating in a research report released on Friday.

WPK has been the subject of several other reports. CIBC raised shares of Winpak from a neutral rating to an outperform rating and decreased their target price for the stock from C$58.00 to C$55.00 in a report on Monday, September 11th. Scotiabank set a C$60.00 target price on shares of Winpak and gave the stock an outperform rating in a report on Friday, July 28th. Raymond James Financial, Inc. cut shares of Winpak from an outperform rating to a market perform rating and decreased their target price for the stock from C$58.00 to C$55.00 in a report on Friday. Finally, TD Securities decreased their target price on shares of Winpak from C$61.00 to C$51.00 and set a hold rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of C$54.75.

Shares of Winpak (WPK) opened at 52.05 on Friday. Winpak has a 12 month low of $44.54 and a 12 month high of $61.43. The firm has a 50-day moving average of $52.07 and a 200-day moving average of $55.12. The company has a market capitalization of $3.38 billion and a P/E ratio of 31.64.

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In other news, Director Timothy Lee Johnson sold 5,743 shares of Winpak stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of C$53.00, for a total value of C$304,379.00.

About Winpak

Winpak Ltd. manufactures and distributes packaging materials and related packaging machines. The Company’s products are used for packaging of perishable foods, beverages and in healthcare applications. It operates through six segments: modified atmosphere packaging, specialty films, rigid containers, lidding, biaxially oriented nylon and packaging machinery.

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