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

Bunzl plc (LON:BNZL) shares passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 2,555.95 and traded as high as GBX 2,748. Bunzl shares last traded at GBX 2,738, with a volume of 1,299,536 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 3,000 price objective on shares of Bunzl in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. lifted their price objective on Bunzl from GBX 2,610 to GBX 2,800 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 2,600 target price on shares of Bunzl in a research report on Tuesday, September 1st. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 1,900 target price on shares of Bunzl in a research note on Tuesday, September 1st. Finally, Citigroup increased their target price on Bunzl from £280 to £300 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bunzl currently has an average rating of “Hold” and an average price target of GBX 6,407.14.

Bunzl Stock Performance

The business’s 50-day moving average price is GBX 2,704.42 and its 200-day moving average price is GBX 2,555.95. The stock has a market cap of £8.65 billion, a P/E ratio of 18.13, a P/E/G ratio of 5.40 and a beta of 0.32. The company has a debt-to-equity ratio of 95.61, a quick ratio of 0.73 and a current ratio of 1.38.

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

Insider Activity at Bunzl

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

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.