Bunzl (LON:BNZL) Hits New 52-Week High – Time to Buy?

Bunzl plc (LON:BNZL)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as GBX 2,614 and last traded at GBX 2,598, with a volume of 1894924 shares. The stock had previously closed at GBX 2,576.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BNZL. Jefferies Financial Group restated an “underperform” rating and issued a GBX 1,900 price target on shares of Bunzl in a report on Wednesday, April 22nd. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 2,200 price objective on shares of Bunzl in a research note on Tuesday, March 10th. Finally, Stifel Nicolaus restated a “hold” rating and issued a GBX 2,350 target price on shares of Bunzl in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of GBX 2,338.

Bunzl Stock Down 0.8%

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 business’s 50-day simple moving average is GBX 2,383.34 and its 200-day simple moving average is GBX 2,224.05. The company has a market capitalization of £8.15 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 5.40 and a beta of 0.32.

Insider Transactions at Bunzl

In related news, insider Richard Howes purchased 8,267 shares of Bunzl stock in a transaction that occurred on Monday, March 16th. The stock was bought at an average cost of GBX 2,299 per share, for a total transaction of £190,058.33. Also, insider Frank van Zanten sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of GBX 2,394, for a total value of £359,100. 0.48% of the stock is 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.