Bunzl (LON:BNZL) Sets New 1-Year High - Time to Buy?

Key Points

• Bunzl shares hit a new 52-week high of GBX 2,902, up from the previous close of GBX 2,864, with 690,833 shares traded.
• Analyst sentiment remains mixed: JPMorgan raised its target to GBX 2,800 with an overweight rating, Deutsche Bank lifted its target to GBX 3,000 but maintained a hold rating, while Jefferies kept an underperform rating with a GBX 2,300 target. The overall consensus rating is Hold.
• Bunzl reported quarterly EPS of GBX 65.70, a 4.82% net margin and 20.61% return on equity; meanwhile, insider Frank van Zanten purchased nearly £919,080 of shares at an average GBX 2,630 each.

Bunzl plc (LON:BNZL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday. The company traded as high as GBX 2,902 and last traded at GBX 2,902, with a volume of 690,833 shares traded. The stock had previously closed at GBX 2,864.

Wall Street Analyst Weigh In

BNZL has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on Bunzl from GBX 2,610 to GBX 2,800 and gave the company an "overweight" rating in a research note on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Bunzl from GBX 2,730 to GBX 3,000 and gave the stock a "hold" rating in a research note on Wednesday, October 21st. Jefferies Financial Group reissued an "underperform" rating and issued a GBX 2,300 price objective on shares of Bunzl in a report on Tuesday, October 20th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a GBX 2,600 price objective on shares of Bunzl in a research note on Tuesday, September 1st. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of GBX 7,175.

Bunzl Price Performance

The business's 50-day moving average price is GBX 2,713.61 and its 200 day moving average price is GBX 2,480.25. The company has a quick ratio of 0.73, a current ratio of 1.38 and a debt-to-equity ratio of 95.61. The company has a market capitalization of £9.14 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 5.40 and a beta of 0.32.

Bunzl (LON:BNZL - Get Free Report) last posted its earnings results on Tuesday, September 1st. The company reported GBX 65.70 earnings per share for the quarter. Bunzl had a net margin of 4.82% and a return on equity of 20.61%. Analysts anticipate that Bunzl plc will post 213.34 EPS for the current fiscal year.

Insider Activity at Bunzl

In other news, insider Frank van Zanten purchased 34,946 shares of Bunzl stock in a transaction dated Thursday, September 17th. The stock was purchased at an average cost of GBX 2,630 per share, for a total transaction of £919,079.80. 0.48% of the stock is owned by company insiders.

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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