Bunzl (LON:BNZL) Shares Cross Above 200 Day Moving Average – Here’s Why

Bunzl plc (LON:BNZL)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,371.40 and traded as high as GBX 2,813. Bunzl shares last traded at GBX 2,794, with a volume of 107,128,195 shares trading hands.

Analyst Upgrades and Downgrades

BNZL has been the topic of a number of research reports. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,900 price target on shares of Bunzl in a research note on Tuesday, June 23rd. Stifel Nicolaus restated a “hold” rating and set a GBX 2,350 price objective on shares of Bunzl in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 2,950 price objective on shares of Bunzl in a report on Wednesday, June 24th. Citigroup upped their target price on Bunzl from £280 to £300 and gave the company a “buy” rating in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. increased their target price on Bunzl from GBX 2,580 to GBX 2,610 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of GBX 5,956.25.

Bunzl Trading Up 0.3%

The stock has a market capitalization of £9.09 billion, a P/E ratio of 20.10, a P/E/G ratio of 5.40 and a beta of 0.32. 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 business has a 50-day moving average price of GBX 2,623.98 and a two-hundred day moving average price of GBX 2,376.65.

Insiders Place Their Bets

In related news, insider Frank van Zanten sold 15,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of GBX 2,394, for a total transaction of £359,100. 0.38% of the stock is owned by corporate 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.