Winpak (TSE:WPK) Shares Pass 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 Tuesday . The stock has a 200-day moving average of C$46.67 and traded as low as C$45.02. Winpak shares last traded at C$45.34, with a volume of 21,730 shares.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. National Bankshares set a C$55.00 target price on shares of Winpak and gave the company an “outperform” rating in a research report on Thursday, September 26th. BMO Capital Markets raised their price objective on Winpak from C$50.00 to C$52.00 in a report on Friday, October 25th. CIBC boosted their target price on Winpak from C$53.00 to C$54.00 in a report on Monday, October 28th. Finally, National Bank Financial raised Winpak to a “strong-buy” rating in a research report on Wednesday, September 25th.

Winpak Stock Performance

The company has a current ratio of 8.95, a quick ratio of 4.69 and a debt-to-equity ratio of 0.82. The stock has a market cap of C$2.86 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 4.44 and a beta of 0.21. The stock’s 50 day moving average is C$48.83 and its two-hundred day moving average is C$46.67.

Winpak Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, January 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, January 2nd. Winpak’s dividend payout ratio is currently 6.58%.

About Winpak

Winpak Ltd. manufactures and distributes packaging materials and related packaging machines in the United States, Canada, and Mexico. The company operates is Flexible Packaging, Rigid Packaging and Flexible Lidding, and Packaging Machinery segments. The Flexible Packaging segment provides modified atmosphere packaging products for fresh and processed meats, poultry, cheese, medical device packaging, high-performance pouch, and high-barrier films for converting applications; specialty films, including barrier and non-barrier films converting applications, such as printing, laminating and bag making, as well as shrink bags; and biaxially oriented nylon films for food packaging and industrial applications.