Bunzl (LON:BNZL) Share Price Passes Above 200-Day Moving Average – Here’s Why

Bunzl plc (LON:BNZL)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 3,391.43 ($42.20) and traded as high as GBX 3,440 ($42.80). Bunzl shares last traded at GBX 3,416 ($42.50), with a volume of 777,181 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BNZL. Jefferies Financial Group restated an “underperform” rating and set a GBX 2,800 ($34.84) price target on shares of Bunzl in a research note on Tuesday, December 17th. Shore Capital restated a “buy” rating on shares of Bunzl in a research note on Thursday, December 19th. Citigroup upgraded Bunzl to a “buy” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their price target on Bunzl from GBX 3,980 ($49.52) to GBX 4,150 ($51.64) and gave the company an “overweight” rating in a research note on Thursday, December 5th. One 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. Based on data from MarketBeat, Bunzl has an average rating of “Hold” and an average price target of GBX 3,375 ($41.99).

Bunzl Stock Performance

The business has a 50-day moving average of GBX 3,408.06 and a two-hundred day moving average of GBX 3,391.43. The company has a market cap of £11.43 billion, a P/E ratio of 2,360.00, a P/E/G ratio of 5.40 and a beta of 0.45. The company has a debt-to-equity ratio of 123.00, a current ratio of 1.15 and a quick ratio of 0.73.

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.