Brambles Ltd. (OTCMKTS:BXBLY) Sees Significant Drop in Short Interest

Brambles Ltd. (OTCMKTS:BXBLY) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 69,184 shares, a decline of 52.3% from the September 30th total of 145,153 shares. Based on an average daily volume of 515,556 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Brambles from a “strong sell” rating to a “hold” rating in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.34.

Brambles Stock Up 1.8%

Shares of Brambles stock opened at $30.07 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.57 and a current ratio of 0.60. The stock’s 50 day simple moving average is $27.55 and its 200-day simple moving average is $29.19. Brambles has a 1-year low of $22.70 and a 1-year high of $36.00.

Brambles Company Profile

Brambles Limited is an Australian supply-chain logistics company best known for operating CHEP, a global pooling system for reusable pallets, crates and containers. The company provides shared-use packaging and equipment that help manufacturers, distributors, retailers and agricultural producers move goods through supply chains more efficiently.

CHEP’s platforms support the handling and transportation of products including consumer packaged goods, fresh produce, beverages and industrial materials.