Bunzl (LON:BNZL) Given New GBX 1,800 Price Target at Royal Bank of Canada
Bunzl (LON:BNZL) had its price objective hoisted by Royal Bank of Canada from GBX 1,700 ($22.36) to GBX 1,800 ($23.68) in a report issued on Friday, Stock Target Advisor reports. They currently have an underperform rating on the stock.
A number of other brokerages have also commented on BNZL. Shore Capital reiterated a buy rating on shares of Bunzl in a research report on Monday, February 24th. JPMorgan Chase & Co. lowered their price objective on Bunzl from GBX 2,410 ($31.70) to GBX 2,340 ($30.78) and set a neutral rating for the company in a research report on Tuesday, December 17th. Credit Suisse Group upgraded Bunzl to a neutral rating and lifted their price objective for the stock from GBX 1,925 ($25.32) to GBX 2,000 ($26.31) in a research report on Wednesday. HSBC reiterated a hold rating and issued a GBX 2,450 ($32.23) price objective on shares of Bunzl in a research report on Monday, January 13th. Finally, Berenberg Bank lifted their price objective on Bunzl from GBX 1,650 ($21.70) to GBX 1,700 ($22.36) and gave the stock a sell rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of GBX 2,121 ($27.90).
Shares of Bunzl stock traded down GBX 112 ($1.47) during trading on Friday, reaching GBX 1,870 ($24.60). The company’s stock had a trading volume of 1,665,514 shares, compared to its average volume of 1,290,000. The stock has a 50-day moving average price of GBX 1,999.79 and a two-hundred day moving average price of GBX 2,043.08. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 134.59. Bunzl has a one year low of GBX 1,891.50 ($24.88) and a one year high of GBX 2,554 ($33.60). The stock has a market capitalization of $6.30 billion and a P/E ratio of 17.89.
The business also recently announced a dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, May 21st will be given a dividend of GBX 35.80 ($0.47) per share. This is a positive change from Bunzl’s previous dividend of $15.50. This represents a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, May 21st. Bunzl’s payout ratio is presently 0.49%.
Bunzl Company Profile
Bunzl plc provides distribution and outsourcing services primarily in the North America, Continental Europe, the United Kingdom, Ireland, and internationally. It provides non-food consumables, including food packaging, napkins, disposable tableware, food service disposables, guest amenities, light and heavy catering equipment, cleaning and hygiene products, and safety items to hotels, restaurants, caterers, and food processors and packers, as well as the leisure sector.
Further Reading: Relative Strength Index
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