Bunzl (LON:BNZL) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Bunzl shares crossed above their 200-day moving average, reaching GBX 2,813 and last trading at GBX 2,794, well above the GBX 2,371.40 average, on volume of more than 107 million shares.
• Analyst views remain mixed: Deutsche Bank and Citigroup maintained or issued buy ratings, while RBC rated the stock sector perform and Stifel and Jefferies remained cautious. The overall consensus rating is “Hold.”
• Bunzl has a market capitalization of approximately £8.97 billion and trades at a P/E ratio of 19.83; insider Frank van Zanten recently sold 15,000 shares for about £359,100.

Bunzl plc (LON:BNZL - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,371.40 and traded as high as GBX 2,813. Bunzl shares last traded at GBX 2,794, with a volume of 107,128,195 shares traded.

Analyst Ratings Changes

Several equities analysts have issued reports on BNZL shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 2,950 price objective on shares of Bunzl in a research report on Wednesday, June 24th. Royal Bank Of Canada raised their target price on Bunzl from GBX 2,200 to GBX 2,600 and gave the company a "sector perform" rating in a research note on Tuesday, July 7th. Citigroup lifted their price target on Bunzl from £280 to £300 and gave the company a "buy" rating in a report on Thursday, June 25th. Stifel Nicolaus reiterated a "hold" rating and set a GBX 2,350 price target on shares of Bunzl in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group reissued an "underperform" rating and set a GBX 1,900 price objective on shares of Bunzl in a report on Tuesday, June 23rd. Four investment analysts have 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 MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of GBX 5,956.25.

Bunzl Price Performance

The firm's 50-day moving average is GBX 2,614.78 and its two-hundred day moving average is GBX 2,371.40. 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 £8.97 billion, a P/E ratio of 19.83, a PEG ratio of 5.40 and a beta of 0.32.

Insider Buying and Selling at Bunzl

In other news, insider Frank van Zanten sold 15,000 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of GBX 2,394, for a total transaction of £359,100. 0.38% of the stock is currently owned by insiders.

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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