Bunzl (OTCMKTS:BZLFY) Share Price Breaks Above 50 Day Moving Average – Here’s What Happened

Bunzl PLC (OTCMKTS:BZLFY) shares crossed 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.

Wall Street Analysts Forecast Growth

BZLFY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Bunzl from a “buy” rating to a “hold” rating in a report on Wednesday, August 12th. BNP Paribas Exane downgraded shares of Bunzl from an “outperform” rating to a “neutral” rating in a research note on Friday, September 4th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Bunzl in a research report on Tuesday, July 7th. Zacks Research upgraded shares of Bunzl from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Finally, Sanford C. Bernstein cut shares of Bunzl from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. One 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Bunzl Trading Up 1.6%

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 0.81. The stock has a 50 day moving average of $18.17 and a 200 day moving average of $17.48.

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.