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

Shares of Bunzl plc (LON:BNZL) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 3,404.90 ($42.57) and traded as high as GBX 3,442 ($43.03). Bunzl shares last traded at GBX 3,430 ($42.88), with a volume of 495,168 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BNZL. Citigroup upgraded shares of Bunzl to a “buy” rating in a research report on Monday, January 13th. Shore Capital reiterated a “buy” rating on shares of Bunzl in a research report on Thursday, December 19th. JPMorgan Chase & Co. upped their target price on shares of Bunzl from GBX 3,980 ($49.76) to GBX 4,150 ($51.88) and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Jefferies Financial Group reiterated an “underperform” rating and set a GBX 2,800 ($35.00) target price on shares of Bunzl in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of GBX 3,375 ($42.19).

Bunzl Stock Performance

The company has a debt-to-equity ratio of 123.00, a current ratio of 1.15 and a quick ratio of 0.73. The firm has a market capitalization of £11.46 billion, a P/E ratio of 2,365.53, a P/E/G ratio of 5.40 and a beta of 0.45. The stock’s 50 day moving average is GBX 3,404.57 and its two-hundred day moving average is GBX 3,404.90.

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.