Winpak (TSE:WPK) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Winpak Ltd. (TSE:WPK)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$44.40 and traded as low as C$40.19. Winpak shares last traded at C$40.34, with a volume of 36,470 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WPK. Canadian Imperial Bank of Commerce lowered shares of Winpak from an “outperform” rating to a “hold” rating and decreased their price target for the stock from C$53.00 to C$52.00 in a report on Tuesday, February 24th. BMO Capital Markets increased their target price on shares of Winpak from C$47.00 to C$52.00 and gave the company a “market perform” rating in a report on Tuesday, February 24th. Finally, National Bank Financial increased their target price on shares of Winpak from C$48.00 to C$49.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$51.00.

Winpak Trading Up 1.4%

The company’s fifty day moving average is C$42.04 and its 200 day moving average is C$44.37. The company has a market cap of C$2.40 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 4.44 and a beta of 0.47.

Winpak (TSE:WPK) last released its earnings results on Wednesday, April 29th. The company reported C$0.74 EPS for the quarter. The company had revenue of C$389.30 million for the quarter. Winpak had a net margin of 11.93% and a return on equity of 10.32%. Analysts anticipate that Winpak Ltd. will post 3.5432473 EPS for the current year.

Winpak Dividend Announcement

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

Insider Transactions at Winpak

In other news, insider Scott Mckenzie Taylor purchased 1,650 shares of the business’s stock in a transaction on 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 acquisition, the insider directly owned 4,400 shares in the company, valued at approximately C$177,584. The trade was a 60.00% increase in their ownership of the stock. 57.46% of the stock is currently 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.