Bunzl (LON:BNZL) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of Bunzl plc (LON:BNZL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 3,312.99 ($41.81) and traded as high as GBX 3,544 ($44.73). Bunzl shares last traded at GBX 3,520 ($44.43), with a volume of 551,249 shares traded.

Analyst Ratings Changes

Several brokerages have recently commented on BNZL. Royal Bank of Canada raised shares of Bunzl to a “sector perform” rating and raised their price objective for the stock from GBX 2,700 ($34.08) to GBX 3,350 ($42.28) in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of Bunzl from GBX 3,980 ($50.23) to GBX 4,150 ($52.38) and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Shore Capital reaffirmed a “buy” rating on shares of Bunzl in a research report on Thursday, October 24th. Finally, Jefferies Financial Group raised their price objective on shares of Bunzl from GBX 2,600 ($32.82) to GBX 2,800 ($35.34) and gave the stock an “underperform” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of GBX 3,375 ($42.60).

Bunzl Trading Down 0.4 %

The business has a fifty day moving average of GBX 3,509.94 and a 200-day moving average of GBX 3,312.99. The company has a debt-to-equity ratio of 123.00, a quick ratio of 0.73 and a current ratio of 1.15. The company has a market capitalization of £11.76 billion, a P/E ratio of 2,427.59, a PEG ratio of 5.40 and a beta of 0.45.

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.