Bunzl (LON:BNZL) Hits New 12-Month High – Time to Buy?

Bunzl plc (LON:BNZL)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as GBX 2,686 and last traded at GBX 2,682, with a volume of 568879 shares. The stock had previously closed at GBX 2,640.

Analysts Set New Price Targets

Several analysts recently commented on BNZL shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 2,950 price objective on shares of Bunzl in a research note 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 report on Wednesday, June 24th. Stifel Nicolaus reiterated a “hold” rating and set a GBX 2,350 price objective on shares of Bunzl in a report on Wednesday, April 22nd. Citigroup boosted their price objective on Bunzl from £280 to £300 and gave the company a “buy” rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a GBX 2,200 price objective on shares of Bunzl in a report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of GBX 5,906.25.

Bunzl Stock Performance

The stock’s 50-day moving average price is GBX 2,453.42 and its 200 day moving average price is GBX 2,263.28. The firm has a market cap of £8.57 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 5.40 and a beta of 0.32. The company has a debt-to-equity ratio of 103.81, a current ratio of 1.39 and a quick ratio of 0.73.

Insider Activity

In related news, insider Frank van Zanten sold 15,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of GBX 2,394, for a total transaction of £359,100. Corporate insiders own 0.48% of the company’s stock.

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.