Royal Bank of Canada Boosts Bunzl (LON:BNZL) Price Target to GBX 2,700

Bunzl (LON:BNZL) had its price target lifted by investment analysts at Royal Bank of Canada from GBX 2,600 ($32.89) to GBX 2,700 ($34.15) in a note issued to investors on Tuesday, Digital Look reports. The brokerage presently has an “underperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential downside of 9.34% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 3,200 ($40.48) target price on shares of Bunzl in a research report on Friday. JPMorgan Chase & Co. raised their price objective on Bunzl from GBX 3,300 ($41.74) to GBX 3,380 ($42.75) and gave the stock a “neutral” rating in a research report on Friday. Finally, Shore Capital reaffirmed a “buy” rating on shares of Bunzl in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bunzl presently has an average rating of “Hold” and an average target price of GBX 3,120 ($39.46).

Bunzl Stock Down 0.5 %

Shares of LON BNZL opened at GBX 2,978 ($37.67) on Tuesday. Bunzl has a 1 year low of GBX 2,680 ($33.90) and a 1 year high of GBX 3,306 ($41.82). The company has a market capitalization of £10.00 billion, a P/E ratio of 1,930.76, a P/E/G ratio of 5.40 and a beta of 0.47. The company has a 50 day simple moving average of GBX 3,032.76 and a 200-day simple moving average of GBX 3,093.71. The company has a debt-to-equity ratio of 106.68, a current ratio of 1.40 and a quick ratio of 0.73.

Insider Activity

In other Bunzl news, insider Frank van Zanten sold 24,244 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of GBX 3,062 ($38.73), for a total transaction of £742,351.28 ($938,972.02). Insiders own 0.84% 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.