Brambles Ltd. (OTCMKTS:BXBLY – Get Free Report) shares saw unusually-strong trading volume on Friday. Approximately 161,097 shares changed hands during mid-day trading, an increase of 79% from the previous session’s volume of 90,088 shares. The stock last traded at $26.66 and had previously closed at $26.39.
Analysts Set New Price Targets
Separately, Zacks Research lowered Brambles from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Brambles presently has an average rating of “Hold” and a consensus target price of $19.34.
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Brambles Stock Performance
About Brambles
Brambles Limited is an Australian supply-chain logistics company best known for its CHEP business, which provides reusable pallets, crates, bins and other platforms used to move, store and protect goods. Rather than selling these assets outright, Brambles operates a pooling model in which customers access a shared fleet of standardized equipment that is collected, inspected, repaired and redistributed for repeated use.
CHEP products support supply chains across the consumer goods, grocery, fresh produce, beverage, manufacturing and retail sectors.
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