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

Brambles Ltd. (OTCMKTS:BXBLY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $26.15, but opened at $23.59. Brambles shares last traded at $23.44, with a volume of 75,499 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BXBLY. UBS Group upgraded shares of Brambles to a “buy” rating in a research report on Monday. Zacks Research upgraded shares of Brambles to a “hold” rating in a research report on Thursday, February 5th. Finally, The Goldman Sachs Group upgraded shares of Brambles to a “neutral” rating and set a $19.34 price target for the company in a research report on Tuesday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.34.

Brambles Stock Performance

The stock’s 50 day simple moving average is $31.67 and its 200-day simple moving average is $31.69.

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.