Bunzl (LON:BNZL) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Bunzl plc (LON:BNZL) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of GBX 2,584.11 and traded as high as GBX 2,860. Bunzl shares last traded at GBX 2,810, with a volume of 2,174,837 shares traded.

Wall Street Analyst Weigh In

BNZL has been the subject of several research analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a GBX 2,600 price target on shares of Bunzl in a research report on Tuesday, September 1st. JPMorgan Chase & Co. lifted their price objective on Bunzl from GBX 2,610 to GBX 2,800 and gave the stock an “overweight” rating in a report on Wednesday, September 2nd. Jefferies Financial Group reiterated an “underperform” rating and set a GBX 2,300 price objective on shares of Bunzl in a research note on Tuesday. Citigroup increased their target price on Bunzl from £280 to £300 and gave the company a “buy” rating in a report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Bunzl from GBX 2,730 to GBX 3,000 and gave the company a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of GBX 7,175.

Bunzl Price Performance

The stock’s fifty day moving average price is GBX 2,700.10 and its 200-day moving average price is GBX 2,587.50. The firm has a market cap of £8.69 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 5.40 and a beta of 0.32. The company has a debt-to-equity ratio of 95.61, a current ratio of 1.38 and a quick ratio of 0.73.

Bunzl (LON:BNZL) last posted its quarterly earnings results on Tuesday, September 1st. The company reported GBX 65.70 earnings per share for the quarter. Bunzl had a net margin of 4.82% and a return on equity of 20.61%. As a group, equities analysts expect that Bunzl plc will post 213.34 EPS for the current fiscal year.

Insider Activity

In related news, insider Frank van Zanten purchased 34,946 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was purchased at an average price of GBX 2,630 per share, with a total value of £919,079.80. 0.48% of the stock is owned by company insiders.

Bunzl Company Profile

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.