Bunzl (LON:BNZL) Share Price Breaks Above 200 Day Moving Average – Should You Sell?

Bunzl plc (LON:BNZL)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 2,527.37 and traded as high as GBX 2,692. Bunzl shares last traded at GBX 2,683.62, with a volume of 143,722,984 shares traded.

Analysts Set New Price Targets

A number of research firms recently issued reports on BNZL. Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,900 target price on shares of Bunzl in a research report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 3,000 price target on shares of Bunzl in a report on Wednesday, September 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 2,600 price target on shares of Bunzl in a research note on Tuesday, September 1st. JPMorgan Chase & Co. upped their price objective on shares of Bunzl from GBX 2,610 to GBX 2,800 and gave the company an “overweight” rating in a report on Wednesday, September 2nd. Finally, Citigroup increased their price objective on shares of Bunzl from £280 to £300 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of GBX 6,407.14.

Bunzl Trading Down 1.5%

The business has a fifty day moving average of GBX 2,727.38 and a 200-day moving average of GBX 2,528.20. The company has a debt-to-equity ratio of 95.61, a quick ratio of 0.73 and a current ratio of 1.38. The company has a market capitalization of £8.50 billion, a P/E ratio of 17.53, a PEG ratio of 5.40 and a beta of 0.32.

Bunzl (LON:BNZL) last posted its quarterly earnings results on Tuesday, September 1st. The company reported GBX 65.70 earnings per share (EPS) for the quarter. Bunzl had a net margin of 4.82% and a return on equity of 20.61%. Analysts anticipate that Bunzl plc will post 213.3413462 earnings per share for the current fiscal year.

Insider Activity

In other Bunzl news, insider Frank van Zanten bought 34,946 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was bought at an average cost of GBX 2,630 per share, with a total value of £919,079.80. 0.38% of the stock is owned by corporate insiders.

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.