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

Brambles Ltd. (OTCMKTS:BXBLY)’s share price gapped up prior to trading on Monday . The stock had previously closed at $26.2650, but opened at $27.72. Brambles shares last traded at $26.7380, with a volume of 5,129 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BXBLY. The Goldman Sachs Group raised Brambles to a “neutral” rating and set a $19.34 target price on the stock in a research report on Tuesday, May 19th. UBS Group upgraded Brambles from a “hold” rating to a “buy” rating in a research note on Monday, May 18th. Finally, Zacks Research raised shares of Brambles from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Brambles has an average rating of “Hold” and a consensus target price of $19.34.

Brambles Price Performance

The stock has a 50-day moving average of $25.80 and a 200 day moving average of $29.99. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 0.56.

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.