Winpak (TSE:WPK) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Technical move: Winpak crossed above its 200‑day moving average (200‑day MA C$44.09), trading as high as C$45.97 and last at C$45.51 on Thursday (volume 56,365).
• Analyst stance: The consensus rating is a "Hold" with a C$51 price target; recent broker activity included CIBC downgrading to Hold (TP C$52) while BMO and National Bank raised targets to C$52 and C$49 respectively.
• Financial profile: Market cap about C$2.67B, P/E ~20.2, P/E/G 4.44, high liquidity (current ratio 6.34, quick ratio 4.69) and debt/equity ~1.06.

Winpak Ltd. (TSE:WPK - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$44.09 and traded as high as C$45.97. Winpak shares last traded at C$45.51, with a volume of 56,365 shares changing hands.

Analyst Upgrades and Downgrades

WPK has been the topic of several recent research reports. Canadian Imperial Bank of Commerce downgraded 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 research report on Tuesday, February 24th. National Bank Financial upped their price objective on 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. Finally, BMO Capital Markets lifted their target price on Winpak from C$47.00 to C$52.00 and gave the company a "market perform" rating in a research report on Tuesday, February 24th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Winpak has a consensus rating of "Hold" and a consensus price target of C$51.00.

Winpak Trading Down 0.3%

The firm has a market cap of C$2.67 billion, a P/E ratio of 20.23, a P/E/G ratio of 4.44 and a beta of 0.51. The stock has a 50 day simple moving average of C$46.72 and a 200-day simple moving average of C$44.09. The company has a current ratio of 6.34, a quick ratio of 4.69 and a debt-to-equity ratio of 1.06.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.