Brambles (OTCMKTS:BXBLY) Shares Gap Down – What’s Next?

Shares of Brambles Ltd. (OTCMKTS:BXBLY) gapped down prior to trading on Thursday . The stock had previously closed at $27.56, but opened at $26.76. Brambles shares last traded at $27.6850, with a volume of 66,175 shares traded.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BXBLY. Zacks Research downgraded shares of Brambles from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. UBS Group upgraded shares of Brambles from a “hold” rating to a “buy” rating in a report on Monday, May 18th. Finally, The Goldman Sachs Group upgraded shares of Brambles to a “neutral” rating and set a $19.34 target price for the company in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.34.

Brambles Stock Performance

The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $27.36 and a 200-day moving average of $29.25.

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.