Bunzl (LON:BNZL) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Bunzl shares crossed above their 200-day moving average, reaching GBX 2,762 and last trading at GBX 2,754, compared with a 200-day average of GBX 2,435.99.
• Analyst views remain mixed: Deutsche Bank downgraded the stock to “hold,” while Citigroup maintained a “buy” view and Jefferies reiterated “underperform.” Overall, the shares carry a consensus “hold” rating.
• Bunzl has a market capitalization of approximately £8.84 billion, a P/E ratio of 19.55 and a debt-to-equity ratio of 103.81; its shares were down 0.1% in the session.

Bunzl plc (LON:BNZL - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 2,435.99 and traded as high as GBX 2,762. Bunzl shares last traded at GBX 2,754, with a volume of 1,129,362 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BNZL shares. Deutsche Bank Aktiengesellschaft downgraded Bunzl to a "hold" rating and upped their price objective for the company from GBX 2,950 to GBX 3,000 in a research report on Wednesday, August 12th. Royal Bank Of Canada raised their price target 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. Jefferies Financial Group reaffirmed an "underperform" rating and set a GBX 1,900 price objective on shares of Bunzl in a research note on Tuesday, June 23rd. Citigroup increased their target price on shares of Bunzl from £280 to £300 and gave the company a "buy" rating in a research note on Thursday, June 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Bunzl from GBX 2,580 to GBX 2,610 and gave the stock an "overweight" rating in a research note on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Bunzl has an average rating of "Hold" and a consensus target price of GBX 5,962.50.

Bunzl Stock Down 0.1%

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 company has a 50-day simple moving average of GBX 2,706.07 and a 200 day simple moving average of GBX 2,435.99. The company has a market cap of £8.84 billion, a P/E ratio of 19.55, a P/E/G ratio of 5.40 and a beta of 0.32.

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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