Bunzl (LON:BNZL) Stock Crosses Above 200 Day Moving Average - Here's Why

Bunzl plc (LON:BNZL - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 3,312.99 ($41.81) and traded as high as GBX 3,544 ($44.73). Bunzl shares last traded at GBX 3,520 ($44.43), with a volume of 551,249 shares.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Bunzl from GBX 3,980 ($50.23) to GBX 4,150 ($52.38) and gave the stock an "overweight" rating in a report on Thursday, December 5th. Jefferies Financial Group raised their target price on Bunzl from GBX 2,600 ($32.82) to GBX 2,800 ($35.34) and gave the company an "underperform" rating in a research note on Thursday, September 5th. Shore Capital restated a "buy" rating on shares of Bunzl in a research report on Thursday, October 24th. Finally, Royal Bank of Canada raised shares of Bunzl to a "sector perform" rating and increased their price objective for the stock from GBX 2,700 ($34.08) to GBX 3,350 ($42.28) in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Bunzl presently has an average rating of "Hold" and an average target price of GBX 3,375 ($42.60).

Bunzl Price Performance

The company has a fifty day simple moving average of GBX 3,509.94 and a 200-day simple moving average of GBX 3,314.42. The company has a market cap of £11.76 billion, a P/E ratio of 2,427.59, a PEG 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.