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

Brambles Ltd. (OTCMKTS:BXBLY)’s stock price 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 traded.

Analysts Set New Price Targets

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

Brambles Stock Down 3.0%

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 business’s fifty day simple moving average is $26.01 and its two-hundred day simple moving average is $30.05.

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.