Winpak (TSE:WPK) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Shares of Winpak Ltd. (TSE:WPK - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$45.71 and traded as high as C$48.35. Winpak shares last traded at C$48.07, with a volume of 44,474 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WPK shares. CIBC lifted their price target on shares of Winpak from C$53.00 to C$54.00 in a report on Monday, October 28th. BMO Capital Markets lifted their price target on shares of Winpak from C$50.00 to C$52.00 in a report on Friday, October 25th. National Bank Financial raised shares of Winpak to a "strong-buy" rating in a report on Wednesday, September 25th. Finally, National Bankshares set a C$55.00 price target on shares of Winpak and gave the company an "outperform" rating in a report on Thursday, September 26th.

Winpak Stock Performance

The company has a market capitalization of C$3.09 billion, a P/E ratio of 15.81, a P/E/G ratio of 4.44 and a beta of 0.21. The company has a debt-to-equity ratio of 0.82, a current ratio of 8.95 and a quick ratio of 4.69. The stock's 50 day simple moving average is C$47.25 and its two-hundred day simple moving average is C$45.74.

Winpak Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, October 11th were paid a $0.05 dividend. The ex-dividend date was Tuesday, October 1st. This is an increase from Winpak's previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.41%. Winpak's 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.