Winpak (TSE:WPK) Stock Crosses Below 200-Day Moving Average – Here’s Why

Shares of Winpak Ltd. (TSE:WPK) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$44.51 and traded as low as C$40.46. Winpak shares last traded at C$40.70, with a volume of 36,422 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on WPK. Canadian Imperial Bank of Commerce cut shares of Winpak from an “outperform” rating to a “hold” rating and reduced their target price for the stock from C$53.00 to C$52.00 in a research note on Tuesday, February 24th. BMO Capital Markets raised their target price 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, February 24th. Finally, National Bank Financial raised their target price on shares of Winpak from C$48.00 to C$49.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$51.00.

Winpak Price Performance

The company’s 50 day moving average is C$42.73 and its 200 day moving average is C$44.51. The stock has a market cap of C$2.39 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 4.44 and a beta of 0.57.

Winpak (TSE:WPK) last announced its quarterly earnings data on Wednesday, April 29th. The company reported C$0.74 EPS for the quarter. Winpak had a net margin of 11.93% and a return on equity of 10.32%. The firm had revenue of C$389.30 million during the quarter. Sell-side analysts predict that Winpak Ltd. will post 3.5432473 earnings per share for the current year.

Winpak Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, April 10th were paid a $0.05 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. Winpak’s dividend payout ratio (DPR) is 6.53%.

Insider Activity at Winpak

In related news, insider Scott Mckenzie Taylor acquired 1,650 shares of Winpak stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average price of C$40.36 per share, for a total transaction of C$66,594.00. Following the completion of the purchase, the insider directly owned 4,400 shares of the company’s stock, valued at approximately C$177,584. This trade represents a 60.00% increase in their ownership of the stock. 57.46% of the stock is owned by company insiders.

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.