Bunzl (LON:BNZL) Hits New 1-Year High on Analyst Upgrade

Bunzl plc (LON:BNZL) shares reached a new 52-week high during mid-day trading on Wednesday after Citigroup raised their price target on the stock from £280 to £300. Citigroup currently has a buy rating on the stock. Bunzl traded as high as GBX 2,642 and last traded at GBX 2,628, with a volume of 3506999 shares traded. The stock had previously closed at GBX 2,602.

Several other research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 2,950 target price on shares of Bunzl in a report on Wednesday. Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,900 price objective on shares of Bunzl in a research note on Tuesday. Stifel Nicolaus reissued a “hold” rating and set a GBX 2,350 price objective on shares of Bunzl in a report on Wednesday, April 22nd. JPMorgan Chase & Co. upped their target price on Bunzl from GBX 2,580 to GBX 2,610 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a GBX 2,200 target price on shares of Bunzl in a report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of GBX 5,906.25.

Insider Activity at Bunzl

In other news, insider Frank van Zanten sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of GBX 2,394, for a total value of £359,100. Insiders own 0.48% of the company’s stock.

Bunzl Price Performance

The company has a market cap of £8.52 billion, a PE ratio of 18.84, a PEG ratio of 5.40 and a beta of 0.32. The company has a debt-to-equity ratio of 103.81, a current ratio of 1.39 and a quick ratio of 0.73. The stock’s 50-day moving average is GBX 2,429.68 and its 200 day moving average is GBX 2,249.66.

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.