Bunzl (OTCMKTS:BZLFY) Shares Cross Below 50-Day Moving Average – What’s Next?

Bunzl PLC (OTCMKTS:BZLFY)’s share price passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $18.29 and traded as low as $17.64. Bunzl shares last traded at $17.80, with a volume of 31,995 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on BZLFY. BNP Paribas Exane cut Bunzl from an “outperform” rating to a “neutral” rating in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft cut Bunzl from a “buy” rating to a “hold” rating in a report on Wednesday, August 12th. Sanford C. Bernstein downgraded Bunzl from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Bunzl in a report on Tuesday, July 7th. Finally, Citigroup reissued a “buy” rating on shares of Bunzl in a research report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Bunzl has an average rating of “Hold”.

Bunzl Trading Up 2.9%

The business has a 50-day moving average of $18.25 and a 200-day moving average of $17.21.

Bunzl Company Profile

Bunzl plc is a multinational distribution and outsourcing company headquartered in London, United Kingdom. The company supplies essential business-to-business products and provides related services that help organizations manage procurement, inventory and delivery across a range of industries.

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