Brambles (OTCMKTS:BXBLY) Shares Gap Up – Here’s What Happened

Shares of Brambles Ltd. (OTCMKTS:BXBLY) gapped up before the market opened on Monday . The stock had previously closed at $26.09, but opened at $27.06. Brambles shares last traded at $27.06, with a volume of 456 shares trading hands.

Wall Street Analyst Weigh In

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

Brambles Price Performance

The company has a 50 day simple moving average of $26.65 and a 200-day simple moving average of $30.21.

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.