Brambles (OTCMKTS:BXBLY) Shares Gap Up – Should You Buy?

Brambles Ltd. (OTCMKTS:BXBLY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $24.47, but opened at $26.61. Brambles shares last traded at $25.4625, with a volume of 670 shares trading hands.

Analysts Set New Price Targets

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

Brambles Price Performance

The firm has a 50-day simple moving average of $29.27 and a two-hundred day simple moving average of $30.91.

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.