Bunzl (LON:BNZL) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Bunzl plc (LON:BNZL) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,340.03 and traded as high as GBX 2,770. Bunzl shares last traded at GBX 2,768, with a volume of 477,428 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a GBX 2,350 target price on shares of Bunzl in a research note on Wednesday, April 22nd. Citigroup upped their price objective on Bunzl from £280 to £300 and gave the company a “buy” rating in a research note on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 2,950 price objective on shares of Bunzl in a research report on Wednesday, June 24th. Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,900 target price on shares of Bunzl in a research note on Tuesday, June 23rd. Finally, Royal Bank Of Canada boosted their target price on Bunzl from GBX 2,200 to GBX 2,600 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of GBX 5,956.25.

Bunzl Trading Down 0.1%

The business’s 50 day moving average price is GBX 2,573.91 and its 200-day moving average price is GBX 2,345.51. 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 company has a market cap of £9.04 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 5.40 and a beta of 0.32.

Insiders Place Their Bets

In other Bunzl 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. 0.38% of the stock is currently owned by corporate insiders.

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.