Bunzl (LON:BNZL) Hits New 52-Week High – Should You Buy?

Shares of Bunzl plc (LON:BNZL) hit a new 52-week high during trading on Tuesday . The stock traded as high as GBX 2,800 and last traded at GBX 2,793.25, with a volume of 1597662 shares. The stock had previously closed at GBX 2,768.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BNZL shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 2,950 price target on shares of Bunzl in a report on Wednesday, June 24th. Citigroup boosted their price objective on Bunzl from £280 to £300 and gave the stock a “buy” rating in a report on Thursday, June 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a GBX 2,350 target price on shares of Bunzl in a research report on Wednesday, April 22nd. Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,900 target price on shares of Bunzl in a research note on Tuesday, June 23rd. Finally, Royal Bank Of Canada lifted their price target on Bunzl from GBX 2,200 to GBX 2,600 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 5,956.25.

Bunzl Price Performance

The firm has a market capitalization of £9.04 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 5.40 and a beta of 0.32. The company’s 50 day moving average is GBX 2,581.55 and its 200 day moving average is GBX 2,351.01. 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 Transactions at Bunzl

In other Bunzl news, insider Frank van Zanten sold 15,000 shares of the business’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. 0.38% of the stock is owned by corporate insiders.

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.