Bunzl (LON:BNZL) Sets New 52-Week High - Still a Buy?

Key Points

• Bunzl hit a new 52-week high, trading as high as GBX 2,714 and closing near that level at GBX 2,708, up 0.3% on the day.
• Analyst views remain mixed, with recent target price increases from JPMorgan, Citigroup, and RBC, but the overall consensus still sits at “Hold” despite a range of Buy and Sell ratings.
• The company’s valuation metrics show a market cap of £8.66 billion and a P/E ratio of 19.14, while insider Frank van Zanten recently sold 15,000 shares.

Bunzl plc (LON:BNZL - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as GBX 2,714 and last traded at GBX 2,708, with a volume of 752127 shares traded. The stock had previously closed at GBX 2,688.

Analyst Upgrades and Downgrades

BNZL has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Bunzl from GBX 2,580 to GBX 2,610 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. Stifel Nicolaus reiterated a "hold" rating and set a GBX 2,350 price target on shares of Bunzl in a report on Wednesday, April 22nd. Citigroup boosted their price objective on shares of Bunzl from £280 to £300 and gave the company a "buy" rating in a research report on Thursday, June 25th. Jefferies Financial Group reissued an "underperform" rating and set a GBX 1,900 price objective on shares of Bunzl in a research note on Tuesday, June 23rd. Finally, Royal Bank Of Canada raised their target price on shares of 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. Four 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.com, Bunzl has an average rating of "Hold" and an average target price of GBX 5,956.25.

Bunzl Trading Up 0.3%

The business has a 50 day simple moving average of GBX 2,488.80 and a 200-day simple moving average of GBX 2,288.42. 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 stock has a market capitalization of £8.66 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 5.40 and a beta of 0.32.

Insider Activity

In related news, insider Frank van Zanten sold 15,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of GBX 2,394, for a total value of £359,100. Corporate insiders own 0.38% of the company's stock.

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.

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