Winpak (TSE:WPK) Stock Passes Below 200-Day Moving Average – What’s Next?

Winpak Ltd. (TSE:WPK)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$44.28 and traded as low as C$40.65. Winpak shares last traded at C$40.91, with a volume of 49,040 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WPK. BMO Capital Markets lifted their price objective on shares of Winpak from C$47.00 to C$52.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 24th. Canadian Imperial Bank of Commerce cut shares of Winpak from an “outperform” rating to a “hold” rating and decreased their price objective for the stock from C$53.00 to C$52.00 in a research report on Tuesday, February 24th. Finally, National Bank Financial lifted their price objective on shares of Winpak from C$48.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$51.00.

Winpak Trading Up 0.1%

The company’s 50 day moving average is C$41.61 and its 200 day moving average is C$44.28. The stock has a market capitalization of C$2.40 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 4.44 and a beta of 0.47.

Winpak (TSE:WPK) last announced its quarterly earnings results 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 for the quarter. Analysts anticipate that Winpak Ltd. will post 3.5432473 EPS for the current fiscal year.

Winpak Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders 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 dividend on an annualized basis and a yield of 0.5%. Winpak’s payout ratio is currently 6.53%.

Insider Buying and Selling

In other Winpak news, insider Scott Mckenzie Taylor acquired 1,650 shares of the company’s stock in a transaction on Monday, May 4th. The shares were bought at an average cost of C$40.36 per share, for a total transaction of C$66,594.00. Following the completion of the purchase, the insider owned 4,400 shares in the company, valued at C$177,584. This trade represents a 60.00% increase in their position. Corporate insiders own 57.46% of the company’s stock.

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.