Brambles (OTCMKTS:BXBLY) Shares Gap Down – Should You Sell?

Brambles Ltd. (OTCMKTS:BXBLY) gapped down before the market opened on Wednesday . The stock had previously closed at $24.5220, but opened at $23.32. Brambles shares last traded at $24.4780, with a volume of 1,716 shares traded.

Analyst Ratings Changes

A number of research analysts have issued reports on BXBLY shares. UBS Group raised shares of Brambles from a “hold” rating to a “buy” rating in a report on Monday, May 18th. Zacks Research cut shares of Brambles from a “hold” rating to a “strong sell” rating in a report on Friday, May 22nd. Finally, The Goldman Sachs Group raised shares of Brambles to a “neutral” rating and set a $19.34 price target for the company in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.34.

Brambles Stock Down 1.0%

The stock’s 50 day moving average price is $30.85 and its two-hundred day moving average price is $31.43.

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.