Brambles (OTCMKTS:BXBLY) Shares Gap Down – Here’s Why

Brambles Ltd. (OTCMKTS:BXBLY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $27.74, but opened at $25.64. Brambles shares last traded at $26.22, with a volume of 6,955 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BXBLY. Zacks Research downgraded shares of Brambles from a “hold” rating to a “strong sell” rating in a research note on Friday, May 22nd. The Goldman Sachs Group upgraded shares of Brambles to a “neutral” rating and set a $19.34 price target for the company in a research note on Tuesday, May 19th. Finally, UBS Group raised Brambles from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.34.

Brambles Stock Performance

The business’s 50 day moving average is $27.29 and its 200 day moving average is $30.39.

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.