Bunzl (LON:BNZL) Reaches New 1-Year High – Still a Buy?

Bunzl plc (LON:BNZL) shares reached a new 52-week high during trading on Monday . The company traded as high as GBX 2,714 and last traded at GBX 2,708, with a volume of 752127 shares changing hands. The stock had previously closed at GBX 2,688.

Analyst Ratings Changes

BNZL has been the subject of several research analyst reports. Stifel Nicolaus reiterated a “hold” rating and issued a GBX 2,350 price objective on shares of Bunzl in a report on Wednesday, April 22nd. Royal Bank Of Canada boosted their target price on Bunzl from GBX 2,200 to GBX 2,600 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 2,950 target price on shares of Bunzl in a report on Wednesday, June 24th. JPMorgan Chase & Co. raised their price target on Bunzl from GBX 2,580 to GBX 2,610 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,900 price target on shares of Bunzl in a report on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Bunzl has a consensus rating of “Hold” and a consensus price target of GBX 5,956.25.

Bunzl Stock Performance

The company has a 50-day simple moving average of GBX 2,499.73 and a two-hundred day simple moving average of GBX 2,297.30. The company has a debt-to-equity ratio of 103.81, a quick ratio of 0.73 and a current ratio of 1.39. The firm has a market capitalization of £8.65 billion, a P/E ratio of 19.12, a PEG ratio of 5.40 and a beta of 0.32.

Insider Activity at Bunzl

In other news, insider Frank van Zanten sold 15,000 shares of the firm’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 value of £359,100. 0.38% of the stock is currently owned by 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.