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

Shares of Brambles Ltd. (OTCMKTS:BXBLY) 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 trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BXBLY shares. 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, May 19th. UBS Group raised shares of Brambles from a “hold” rating to a “buy” rating in a research note on Monday, May 18th. Finally, Zacks Research upgraded shares of Brambles from a “strong sell” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.34.

Brambles Stock Down 3.0%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.64 and a current ratio of 0.67. The stock has a 50-day simple moving average of $26.01 and a 200-day simple moving average of $30.05.

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.