Brambles (OTCMKTS:BXBLY) Shares Gap Down – Time to Sell?

Brambles Ltd. (OTCMKTS:BXBLY)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $26.15, but opened at $23.59. Brambles shares last traded at $23.44, with a volume of 75,499 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on BXBLY. Zacks Research raised Brambles to a “hold” rating in a research report on Thursday, February 5th. The Goldman Sachs Group raised Brambles to a “neutral” rating and set a $19.34 price objective on the stock in a research report on Tuesday. Finally, UBS Group raised Brambles to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. 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 stock has a 50-day moving average price of $31.30 and a 200-day moving average price of $31.58.

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.