Brambles (OTCMKTS:BXBLY) Shares Gap Up – Should You Buy?

Brambles Ltd. (OTCMKTS:BXBLY) shares gapped up prior to trading on Monday . The stock had previously closed at $26.21, but opened at $27.87. Brambles shares last traded at $25.77, with a volume of 1,948 shares changing hands.

Analysts Set New Price Targets

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

Brambles Stock Down 2.9%

The firm’s 50 day simple moving average is $28.21 and its 200-day simple moving average is $30.61.

Brambles Company Profile

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.