Bunzl (LON:BNZL) Lowered to Underperform at Credit Suisse Group
Credit Suisse Group cut shares of Bunzl (LON:BNZL) to an underperform rating in a research note released on Friday, Stock Target Advisor reports. They currently have GBX 1,195 ($15.72) price target on the stock, down from their prior price target of GBX 2,000 ($26.31).
Several other research firms have also recently commented on BNZL. Deutsche Bank boosted their target price on Bunzl from GBX 2,290 ($30.12) to GBX 2,300 ($30.26) and gave the stock a buy rating in a research report on Tuesday, February 25th. UBS Group reaffirmed a neutral rating on shares of Bunzl in a research report on Friday, February 21st. Shore Capital reaffirmed a buy rating on shares of Bunzl in a research report on Monday, February 24th. JPMorgan Chase & Co. lowered their price target 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. Finally, HSBC reaffirmed a hold rating and set a GBX 2,450 ($32.23) price target on shares of Bunzl in a research report on Monday, January 13th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of GBX 2,078.50 ($27.34).
Shares of LON BNZL traded up GBX 64.50 ($0.85) during mid-day trading on Friday, hitting GBX 1,422.50 ($18.71). The company had a trading volume of 2,456,599 shares, compared to its average volume of 1,290,000. The company has a market capitalization of $4.79 billion and a price-to-earnings ratio of 13.61. Bunzl has a 1 year low of GBX 1,748.50 ($23.00) and a 1 year high of GBX 2,554 ($33.60). The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 134.59. The stock’s 50-day moving average price is GBX 1,866.35 and its 200-day moving average price is GBX 2,009.05.
The business also recently announced a dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, May 21st will be issued a GBX 35.80 ($0.47) dividend. This is a boost from Bunzl’s previous dividend of $15.50. This represents a yield of 1.79%. The ex-dividend date of this dividend is Thursday, May 21st. Bunzl’s dividend payout ratio (DPR) is currently 0.49%.
In related news, insider Frank van Zanten sold 5,346 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of GBX 1,902 ($25.02), for a total value of £101,680.92 ($133,755.49).
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.
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