Brambles (OTCMKTS:BXBLY) Sees Strong Trading Volume – Here’s What Happened

Shares of Brambles Ltd. (OTCMKTS:BXBLY) saw unusually-high trading volume on Monday . Approximately 109,555 shares were traded during mid-day trading, an increase of 35% from the previous session’s volume of 81,402 shares.The stock last traded at $26.5925 and had previously closed at $26.87.

Analyst Ratings Changes

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

Brambles Trading Down 1.5%

The business’s fifty day moving average is $29.06 and its 200 day moving average is $30.85.

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.