Bunzl (LON:BNZL) Sets New 52-Week High on Analyst Upgrade

Shares of Bunzl plc (LON:BNZL) reached a new 52-week high on Wednesday after Citigroup raised their price target on the stock from £280 to £300. Citigroup currently has a buy rating on the stock. Bunzl traded as high as GBX 2,642 and last traded at GBX 2,628, with a volume of 3506999 shares trading hands. The stock had previously closed at GBX 2,602.

Several other equities research analysts have also recently commented on the company. Stifel Nicolaus restated a “hold” rating and set a GBX 2,350 price target on shares of Bunzl in a research note on Wednesday, April 22nd. 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. Jefferies Financial Group restated an “underperform” rating and set a GBX 1,900 price objective on shares of Bunzl in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Bunzl from GBX 2,580 to GBX 2,610 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 2,200 target price on shares of Bunzl in a report on Tuesday, March 10th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Bunzl presently has an average rating of “Hold” and an average price target of GBX 5,906.25.

Insider Buying and Selling

In related news, insider Frank van Zanten sold 15,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of GBX 2,394, for a total value of £359,100. Insiders own 0.48% of the company’s stock.

Bunzl Stock Performance

The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 103.81. The stock’s 50 day moving average price is GBX 2,429.68 and its two-hundred day moving average price is GBX 2,249.66. The firm has a market capitalization of £8.53 billion, a PE ratio of 18.86, a PEG ratio of 5.40 and a beta of 0.32.

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.