Royal Bank of Canada Upgrades Bunzl (LON:BNZL) to “Sector perform”

Bunzl (LON:BNZL) was upgraded by stock analysts at Royal Bank of Canada to a “sector perform” rating in a report released on Thursday, MarketBeat reports. The brokerage presently has a GBX 3,350 ($44.18) price target on the stock, up from their prior price target of GBX 2,700 ($35.61). Royal Bank of Canada’s target price would suggest a potential downside of 5.37% from the company’s previous close.

A number of other brokerages have also issued reports on BNZL. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 3,200 ($42.20) price target on shares of Bunzl in a research note on Friday, June 28th. JPMorgan Chase & Co. boosted their price target on shares of Bunzl from GBX 3,300 ($43.52) to GBX 3,380 ($44.57) and gave the stock a “neutral” rating in a research note on Friday, June 28th. Finally, Shore Capital reissued a “buy” rating on shares of Bunzl in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of GBX 3,282.50 ($43.29).

Bunzl Stock Down 0.4 %

Shares of LON:BNZL opened at GBX 3,540 ($46.68) on Thursday. The company has a debt-to-equity ratio of 106.68, a current ratio of 1.40 and a quick ratio of 0.73. The firm has a market capitalization of £11.90 billion, a PE ratio of 2,269.23, a price-to-earnings-growth ratio of 5.40 and a beta of 0.46. The firm’s 50-day moving average is GBX 3,192.76 and its two-hundred day moving average is GBX 3,102.58. Bunzl has a 1 year low of GBX 2,709 ($35.72) and a 1 year high of GBX 3,600 ($47.47).

Insider Transactions at Bunzl

In related news, insider Jacky Simmonds acquired 1,445 shares of the stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of GBX 3,462 ($45.65) per share, with a total value of £50,025.90 ($65,971.12). Corporate insiders own 0.84% 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.