Brambles (OTCMKTS:BXBLY) Shares Gap Up – What’s Next?

Shares of Brambles Ltd. (OTCMKTS:BXBLY) gapped up before the market opened on Monday . The stock had previously closed at $26.21, but opened at $27.87. Brambles shares last traded at $25.77, with a volume of 1,948 shares trading hands.

Analyst Ratings Changes

Several research firms have recently weighed in on BXBLY. Zacks Research cut Brambles from a “hold” rating to a “strong sell” rating in a research 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 research note on Tuesday, May 19th. Finally, UBS Group raised 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.34.

Brambles Stock Up 2.4%

The company’s fifty day moving average is $28.47 and its two-hundred day moving average is $30.68.

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.