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

Shares of Brambles Ltd. (OTCMKTS:BXBLY) gapped down prior to trading on Wednesday . The stock had previously closed at $24.5220, but opened at $23.32. Brambles shares last traded at $24.4780, with a volume of 1,716 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Zacks Research downgraded shares of Brambles from a “hold” rating to a “strong sell” rating in a report on Friday, May 22nd. The Goldman Sachs Group upgraded shares of Brambles to a “neutral” rating and set a $19.34 target price for the company in a report on Tuesday, May 19th. Finally, UBS Group upgraded shares of Brambles from a “hold” rating to a “buy” rating in a report on Monday, May 18th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Brambles has an average rating of “Hold” and an average target price of $19.34.

Brambles Trading Down 1.7%

The company’s 50-day moving average is $30.53 and its two-hundred day moving average is $31.34.

Brambles Company Profile

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.