Winpak (TSE:WPK) Shares Pass Below 200-Day Moving Average - Here's Why

Key Points

• Winpak Ltd. shares fell below their 200-day moving average on Monday, with a trading price dropping to C$40.16 from a 200-day average of C$42.58.
• Equities analysts have mixed opinions on the stock, with CIBC raising its target price to C$52.00, while National Bank Financial downgraded it from a "strong-buy" to a "hold" rating.
• The company recently paid a quarterly dividend of $0.05 per share, resulting in an annualized yield of 0.5% and a payout ratio of 6.03%.

Winpak Ltd. (TSE:WPK - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$42.58 and traded as low as C$40.16. Winpak shares last traded at C$41.10, with a volume of 55,733 shares changing hands.

Analysts Set New Price Targets

WPK has been the topic of a number of research reports. National Bank Financial lowered shares of Winpak from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. CIBC lifted their price target on shares of Winpak from C$50.00 to C$52.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Cibc World Mkts raised shares of Winpak from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Finally, National Bankshares lowered shares of Winpak from an "outperform" rating to a "sector perform" rating and cut their price target for the company from C$52.00 to C$48.00 in a research note on Friday, July 25th.

Winpak Stock Down 1.1%

The company has a market capitalization of C$1.83 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 4.44 and a beta of 0.21. The stock's fifty day moving average price is C$44.16 and its 200-day moving average price is C$42.51.

Winpak Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, July 11th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, July 2nd. Winpak's payout ratio is presently 6.03%.

About Winpak

Winpak Ltd manufactures and sells a variety of packaging materials and related packaging machines. The packaging materials are used primarily for perishable foods, beverages, and healthcare applications. It operates in three segments: flexible packaging, rigid packaging & flexible lidding, and packaging machinery.