Bunzl (LON:BNZL) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Bunzl shares crossed above their 200‑day moving average (200‑day MA GBX 2,200.68), trading as high as GBX 2,462 and last at GBX 2,431 on volume of 905,226 shares.
• Analyst sentiment is muted: the consensus rating is "Reduce" with an average target of GBX 2,338 (below the current price), and analysts are split (1 Buy, 2 Hold, 2 Sell).
• Insider buying occurred: director Richard Howes purchased 8,267 shares at GBX 2,299 (around £190k), with insiders owning 0.38% of the company.

Shares of Bunzl plc (LON:BNZL - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,200.68 and traded as high as GBX 2,462. Bunzl shares last traded at GBX 2,431, with a volume of 905,226 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BNZL shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a GBX 2,200 target price on shares of Bunzl in a research note on Tuesday, March 10th. Stifel Nicolaus reissued a "hold" rating and issued a GBX 2,350 price target on shares of Bunzl in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group reissued an "underperform" rating and issued a GBX 1,900 price target on shares of Bunzl in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of GBX 2,338.

Bunzl Trading Down 1.1%

The company has a 50 day moving average of GBX 2,287.91 and a 200-day moving average of GBX 2,200.68. The company has a debt-to-equity ratio of 103.81, a quick ratio of 0.73 and a current ratio of 1.39. The stock has a market cap of £7.72 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 5.40 and a beta of 0.32.

Bunzl (LON:BNZL - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported GBX 179.30 EPS for the quarter. Bunzl had a net margin of 5.12% and a return on equity of 17.21%. On average, research analysts anticipate that Bunzl plc will post 213.3413462 earnings per share for the current year.

Insider Activity at Bunzl

In other Bunzl news, insider Richard Howes acquired 8,267 shares of the stock in a transaction dated Monday, March 16th. The stock was acquired at an average price of GBX 2,299 per share, with a total value of £190,058.33. Insiders own 0.38% of the company's stock.

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.

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