Bunzl (LON:BNZL) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Bunzl plc (LON:BNZL) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 2,435.99 and traded as high as GBX 2,762. Bunzl shares last traded at GBX 2,754, with a volume of 1,129,362 shares trading hands.

Analyst Ratings Changes

BNZL has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price objective on shares of Bunzl from GBX 2,200 to GBX 2,600 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Jefferies Financial Group reissued an “underperform” rating and issued a GBX 1,900 target price on shares of Bunzl in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. upped their target price on shares of Bunzl from GBX 2,580 to GBX 2,610 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Citigroup increased their price target on shares of Bunzl from £280 to £300 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft downgraded Bunzl to a “hold” rating and lifted their price target for the stock from GBX 2,950 to GBX 3,000 in a research note on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Bunzl currently has an average rating of “Hold” and an average price target of GBX 5,962.50.

Bunzl Stock Performance

The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 103.81. The firm has a market capitalization of £8.84 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 5.40 and a beta of 0.32. The company has a 50-day moving average of GBX 2,706.07 and a 200-day moving average of GBX 2,435.99.

About Bunzl

Bunzl plc operates as a distribution and services company in the North America, Continental Europe, the United Kingdom, Ireland, and internationally. The company offers food packaging, films, labels, cleaning and hygiene supplies, and personal protection equipment to grocery stores, supermarkets, and convenience stores. It also provides food packaging, disposable tableware, guest amenities, catering equipment, agricultural supplies, cleaning and hygiene products, and safety items to hotels, restaurants, contract caterers, food processors, commercial growers, and the leisure sector; and gloves, boots, hard hats, ear and eye protection, and other workwear, as well as cleaning and hygiene supplies, and asset protection products to industrial and construction, and ecommerce sectors.