Bunzl (OTCMKTS:BZLFY) Share Price Breaks Above 50 Day Moving Average - Here's What Happened

Key Points

• Bunzl shares rose 1.6%, reaching $18.77 and closing near $18.76, moving above the 50-day moving average of $18.17. The 200-day moving average stands at $17.48.
• Analyst sentiment is mixed: Citigroup maintained a “buy” rating and Zacks Research upgraded the stock to “strong buy,” while Deutsche Bank and BNP Paribas Exane downgraded it. Overall, MarketBeat reports an average rating of “Hold.”
• Bunzl is a U.K.-based distributor supplying businesses with foodservice, cleaning, safety, healthcare, packaging and other essential operating products, alongside sourcing and logistics services.

Bunzl PLC (OTCMKTS:BZLFY - Get Free Report) shares crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $18.17 and traded as high as $18.77. Bunzl shares last traded at $18.7585, with a volume of 14,565 shares.

Analysts Set New Price Targets

Several research analysts have commented on BZLFY shares. Royal Bank Of Canada restated a "sector perform" rating on shares of Bunzl in a research note on Tuesday, July 7th. Citigroup reiterated a "buy" rating on shares of Bunzl in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Bunzl from a "buy" rating to a "hold" rating in a report on Wednesday, August 12th. BNP Paribas Exane downgraded shares of Bunzl from an "outperform" rating to a "neutral" rating in a report on Friday, September 4th. Finally, Zacks Research upgraded shares of Bunzl from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold".

Bunzl Stock Up 1.6%

The business's 50-day moving average price is $18.17 and its 200 day moving average price is $17.48. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.61.

Bunzl Company Profile

Bunzl plc is a United Kingdom-based specialist distribution and services company that supplies essential products to businesses across a range of industries. Rather than manufacturing most of the products it sells, Bunzl provides sourcing, inventory management, logistics and other supply-chain services designed to help customers operate efficiently.

Its product portfolio includes foodservice packaging and disposables, cleaning and hygiene supplies, personal protective equipment, workplace safety products, healthcare consumables, catering equipment, retail packaging and related operating supplies.

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