Bunzl (LON:BNZL) Sets New 1-Year High – Time to Buy?

Bunzl plc (LON:BNZL)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 2,800 and last traded at GBX 2,793.25, with a volume of 1597662 shares traded. The stock had previously closed at GBX 2,768.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Bunzl from GBX 2,580 to GBX 2,610 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Stifel Nicolaus reissued a “hold” rating and set a GBX 2,350 price target on shares of Bunzl in a research report on Wednesday, April 22nd. Jefferies Financial Group restated an “underperform” rating and issued a GBX 1,900 price objective on shares of Bunzl in a research report on Tuesday, June 23rd. Citigroup lifted their target price on Bunzl from £280 to £300 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 2,950 price objective on shares of Bunzl in a report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Bunzl presently has a consensus rating of “Hold” and an average target price of GBX 5,956.25.

Bunzl Price Performance

The stock has a market cap of £8.98 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 5.40 and a beta of 0.32. The company has a 50 day simple moving average of GBX 2,565.55 and a 200-day simple moving average of GBX 2,340.03. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 103.81.

Insider Buying and Selling

In other Bunzl news, insider Frank van Zanten sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of GBX 2,394, for a total transaction of £359,100. Insiders own 0.38% of the company’s stock.

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.