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

Shares of Brambles Ltd. (OTCMKTS:BXBLY) gapped down prior to trading on Thursday. The stock had previously closed at $26.47, but opened at $25.25. Brambles shares last traded at $25.25, with a volume of 164 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut Brambles from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $19.34.

Brambles Stock Down 2.7%

The firm has a 50 day moving average of $27.30 and a 200 day moving average of $28.20. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.57 and a current ratio of 0.60.

Brambles Company Profile

Brambles Limited is an Australian supply-chain logistics company best known for its CHEP business, which provides reusable pallets, crates, bins and other platforms used to move, store and protect goods. Rather than selling these assets outright, Brambles operates a pooling model in which customers access a shared fleet of standardized equipment that is collected, inspected, repaired and redistributed for repeated use.

CHEP products support supply chains across the consumer goods, grocery, fresh produce, beverage, manufacturing and retail sectors.