In a new note to investors yesterday, an analyst has provided a rating update for Winpak Limited (WPK). Analyst Scott Fromson from CIBC reiterated a Hold rating, with a C$47 price target.
According to TipRanks.com, Fromson is ranked #2589 out of 5215 analysts.
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The word on The Street in general, suggests a Hold analyst consensus rating for Winpak Limited with a C$50 average price target, a 14.7% upside from current levels. In a report released today, GMP FirstEnergy also downgraded the stock to Hold with a C$53 price target.
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Based on Winpak Limited’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$36.38 million. In comparison, last year the company had a net profit of C$50.38 million.
Winpak Ltd. engages in the manufacture and distribution of packaging materials and related packaging machines. Its products include health care, rigid, and flexible packaging, packaging machinery and parts, and flexible lidding. It operates through the following geographical segments: Canada, United States, and Other.
The company’s shares closed on Wednesday at C$43.61, close to its 52-week low of C$42.57.
