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

Key Points

• Winpak Ltd.'s stock price has fallen below its 200-day moving average, reaching a low of C$41.30 with the last trade at C$41.70.
• Analysts have downgraded Winpak's stock rating; National Bank Financial changed its rating from "strong-buy" to "hold" and reduced the price target from C$52.00 to C$48.00.
• The company announced a quarterly dividend of $0.05 per share, marking an annualized dividend yield of 0.5% to be paid on October 10th.

Winpak Ltd. (TSE:WPK - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$42.28 and traded as low as C$41.30. Winpak shares last traded at C$41.70, with a volume of 33,590 shares trading hands.

Analysts Set New Price Targets

Several research firms have weighed in on WPK. National Bank Financial cut shares of Winpak from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. National Bankshares downgraded Winpak from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from C$52.00 to C$48.00 in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$50.67.

Winpak Price Performance

The company has a fifty day moving average of C$41.89 and a 200-day moving average of C$42.28. The firm has a market capitalization of C$2.57 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 4.44 and a beta of 0.23.

Winpak Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. Winpak's dividend payout ratio (DPR) is presently 6.40%.

Winpak Company Profile

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.

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