Bunzl (LON:BNZL) Sets New 52-Week High – Still a Buy?

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on BNZL shares. Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,900 price objective on shares of Bunzl in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. raised their price target on shares of Bunzl from GBX 2,580 to GBX 2,610 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 2,950 price target on shares of Bunzl in a research note on Wednesday, June 24th. Royal Bank Of Canada boosted their price objective on shares of Bunzl from GBX 2,200 to GBX 2,600 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Finally, Citigroup raised their target price on Bunzl from £280 to £300 and gave the company a “buy” rating in a research note on Thursday, June 25th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of GBX 5,956.25.

Bunzl Trading Up 0.3%

The firm has a market cap of £8.66 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 5.40 and a beta of 0.32. The business’s 50 day moving average is GBX 2,488.80 and its 200-day moving average is GBX 2,288.42. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 103.81.

Insider Buying and Selling at Bunzl

In other news, insider Frank van Zanten sold 15,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of GBX 2,394, for a total value of £359,100. Insiders own 0.38% of the company’s stock.

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. 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.