Bunzl (OTCMKTS:BZLFY) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Bunzl PLC (OTCMKTS:BZLFY)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $18.55 and traded as low as $17.80. Bunzl shares last traded at $17.82, with a volume of 17,445 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BZLFY. Royal Bank Of Canada restated a “sector perform” rating on shares of Bunzl in a research report on Tuesday, July 7th. BNP Paribas Exane downgraded shares of Bunzl from an “outperform” rating to a “neutral” rating in a report on Friday, September 4th. Citigroup reaffirmed a “buy” rating on shares of Bunzl in a research note on Thursday, June 25th. Deutsche Bank Aktiengesellschaft cut Bunzl from a “buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Finally, Sanford C. Bernstein cut shares of Bunzl from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Bunzl Trading Down 1.2%

The company’s fifty day moving average price is $18.55 and its two-hundred day moving average price is $16.80. The company has a quick ratio of 0.80, a current ratio of 1.39 and a debt-to-equity ratio of 0.62.

About Bunzl

Bunzl plc is a multinational distribution and outsourcing specialist headquartered in London, United Kingdom. The company focuses on the supply of non-food consumable products to a broad range of end markets, serving as an intermediary between manufacturers and end users. Through its global network, Bunzl leverages its scale and expertise in supply chain management to provide customers with streamlined procurement, inventory management and logistics services.

The company’s product portfolio spans several key categories, including disposable packaging materials, cleaning and hygiene supplies, personal protective equipment, catering disposables and retail point-of-sale items.