Brambles (OTCMKTS:BXBLY) Shares Gap Down – Here’s What Happened

Brambles Ltd. (OTCMKTS:BXBLY) shares gapped down prior to trading on Thursday . The stock had previously closed at $27.16, but opened at $25.11. Brambles shares last traded at $25.99, with a volume of 587 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BXBLY shares. UBS Group raised shares of Brambles from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. Zacks Research raised shares of Brambles from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group upgraded Brambles to a “neutral” rating and set a $19.34 price objective on the stock in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.34.

Brambles Trading Up 1.0%

The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $25.80 and a 200-day moving average of $29.99.

About Brambles

Brambles Limited (OTCMKTS:BXBLY) is a global supply-chain logistics company headquartered in Sydney, Australia, best known for its pooled pallet and reusable packaging services. The company operates the CHEP brand for pallets and larger load-carrier solutions and the IFCO brand for reusable plastic crates, offering customers standardized, shared assets that move goods through retail, grocery, manufacturing and other supply chains.

Brambles’ core activities include the management, distribution and maintenance of pooled pallets, crates and containers; repair and refurbishment services; and logistics support such as asset tracking and inventory management.