Bunzl (LON:BNZL) Reaches New 1-Year High – What’s Next?

Shares of Bunzl plc (LON:BNZL) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 2,898 and last traded at GBX 2,856, with a volume of 20837859 shares. The stock had previously closed at GBX 2,792.

Wall Street Analysts Forecast Growth

BNZL has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price objective on Bunzl from GBX 2,200 to GBX 2,600 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Citigroup increased their price target on Bunzl from £280 to £300 and gave the company a “buy” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. raised their price target on Bunzl from GBX 2,580 to GBX 2,610 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft lowered Bunzl to a “hold” rating and boosted their price target for the stock from GBX 2,950 to GBX 3,000 in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group restated an “underperform” rating and set a GBX 1,900 price objective on shares of Bunzl in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of GBX 6,380.

Bunzl Stock Up 2.3%

The firm has a market capitalization of £9.17 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 5.40 and a beta of 0.32. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 103.81. The company’s 50 day moving average price is GBX 2,739.36 and its 200 day moving average price is GBX 2,466.64.

Bunzl (LON:BNZL) last released its earnings results on Tuesday, September 1st. The company reported GBX 65.70 earnings per share (EPS) for the quarter. Bunzl had a return on equity of 17.21% and a net margin of 5.12%. As a group, research analysts forecast that Bunzl plc will post 213.3413462 earnings per share for the current fiscal year.

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.