Winpak (TSE:WPK) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Winpak Ltd. (TSE:WPK) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$41.19 and traded as high as C$42.21. Winpak shares last traded at C$41.91, with a volume of 129,499 shares.

Analysts Set New Price Targets

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

Winpak Stock Up 1.4%

The company has a 50 day simple moving average of C$41.11 and a two-hundred day simple moving average of C$44.16. The company has a market capitalization of C$2.50 billion, a P/E ratio of 19.19, a PEG ratio of 4.44 and a beta of 0.47.

Winpak (TSE:WPK) last posted its quarterly earnings data on Wednesday, April 29th. The company reported C$0.74 earnings per share (EPS) for the quarter. The business had revenue of C$389.30 million during the quarter. Winpak had a return on equity of 10.32% and a net margin of 11.93%. As a group, research analysts expect that Winpak Ltd. will post 3.5432473 EPS for the current fiscal year.

Winpak Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, April 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, April 1st. Winpak’s dividend payout ratio is presently 6.53%.

Insider Activity

In other news, insider Scott Mckenzie Taylor acquired 1,650 shares of Winpak stock in a transaction that occurred on Monday, May 4th. The shares were bought at an average cost of C$40.36 per share, with a total value of C$66,594.00. Following the transaction, the insider directly owned 4,400 shares of the company’s stock, valued at C$177,584. This trade represents a 60.00% increase in their position. Company insiders own 57.46% of the company’s stock.

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.