Bunzl (LON:BNZL) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Bunzl shares crossed above their 200-day moving average, reaching GBX 2,692 and last trading at GBX 2,683.62, up 1.2% with substantial trading volume.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating, with recent price targets ranging from GBX 1,900 to GBX 3,000.
• Insider confidence received a boost after director Frank van Zanten purchased 34,946 shares for approximately £919,080; Bunzl reported quarterly EPS of GBX 65.70 and a 4.82% net margin.

Bunzl plc (LON:BNZL - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 2,527.37 and traded as high as GBX 2,692. Bunzl shares last traded at GBX 2,683.62, with a volume of 143,722,984 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Bunzl from £280 to £300 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 3,000 price objective on shares of Bunzl in a research report on Wednesday, September 2nd. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a GBX 2,600 target price on shares of Bunzl in a research note on Tuesday, September 1st. Jefferies Financial Group reiterated an "underperform" rating and set a GBX 1,900 target price on shares of Bunzl in a report on Tuesday, September 1st. Finally, JPMorgan Chase & Co. increased their target price on Bunzl from GBX 2,610 to GBX 2,800 and gave the stock an "overweight" rating in a report on Wednesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of GBX 6,407.14.

Bunzl Trading Up 1.2%

The company has a debt-to-equity ratio of 95.61, a quick ratio of 0.73 and a current ratio of 1.38. The business has a 50-day simple moving average of GBX 2,730.37 and a two-hundred day simple moving average of GBX 2,527.37. The stock has a market cap of £8.62 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 5.40 and a beta of 0.32.

Bunzl (LON:BNZL - Get Free Report) last posted its quarterly earnings data on Tuesday, September 1st. The company reported GBX 65.70 earnings per share (EPS) for the quarter. Bunzl had a net margin of 4.82% and a return on equity of 20.61%. As a group, research analysts forecast that Bunzl plc will post 213.3413462 EPS for the current year.

Insiders Place Their Bets

In other Bunzl news, insider Frank van Zanten bought 34,946 shares of the firm's stock in a transaction that occurred on Thursday, September 17th. The stock was acquired at an average price of GBX 2,630 per share, with a total value of £919,079.80. Company 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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