Winpak (TSE:WPK) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Winpak Ltd. (TSE:WPK)’s stock 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 changing hands.

Analyst Ratings Changes

WPK has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce lowered Winpak from an “outperform” rating to a “hold” rating and lowered their price objective 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 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 lifted their price target on Winpak from C$48.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Winpak has an average rating of “Hold” and a consensus price target of C$51.00.

Winpak Stock Performance

The firm’s 50 day moving average price is C$41.61 and its two-hundred day moving average price is C$44.28. The firm has a market cap of C$2.40 billion, a PE ratio of 18.43, a PEG ratio of 4.44 and a beta of 0.47.

Winpak (TSE:WPK) last released 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. On average, analysts forecast that Winpak Ltd. will post 3.5432473 earnings per share for the current year.

Winpak Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, April 10th were given 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 Activity at Winpak

In other Winpak news, insider Scott Mckenzie Taylor purchased 1,650 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were acquired at an average price of C$40.36 per share, with a total value of C$66,594.00. Following the purchase, the insider directly owned 4,400 shares in the company, valued at approximately C$177,584. This trade represents a 60.00% increase in their position. 57.46% of the stock is currently owned by company insiders.

Winpak Company Profile

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.