Bunzl (OTCMKTS:BZLFY) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Bunzl PLC (OTCMKTS:BZLFY)’s stock price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $18.17 and traded as high as $18.77. Bunzl shares last traded at $18.7585, with a volume of 14,565 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Sanford C. Bernstein lowered shares of Bunzl from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft cut shares of Bunzl from a “buy” rating to a “hold” rating in a research report on Wednesday, August 12th. BNP Paribas Exane lowered shares of Bunzl from an “outperform” rating to a “neutral” rating in a research note on Friday, September 4th. Zacks Research upgraded shares of Bunzl from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Bunzl in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Bunzl Stock Performance

The company has a 50 day moving average of $18.17 and a two-hundred day moving average of $17.49. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.61.

About Bunzl

Bunzl plc is a United Kingdom-based specialist distribution and services company that supplies essential products to businesses across a range of industries. Rather than manufacturing most of the products it sells, Bunzl provides sourcing, inventory management, logistics and other supply-chain services designed to help customers operate efficiently.

Its product portfolio includes foodservice packaging and disposables, cleaning and hygiene supplies, personal protective equipment, workplace safety products, healthcare consumables, catering equipment, retail packaging and related operating supplies.