Short Interest in Brambles Ltd. (OTCMKTS:BXBLY) Decreases By 72.0%

Brambles Ltd. (OTCMKTS:BXBLY) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 15,479 shares, a drop of 72.0% from the April 30th total of 55,242 shares. Based on an average daily trading volume, of 104,508 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Brambles Trading Up 0.5%

OTCMKTS:BXBLY opened at $23.87 on Friday. Brambles has a 12-month low of $22.70 and a 12-month high of $36.00. The stock has a 50-day moving average price of $30.39 and a 200 day moving average price of $31.29.

Wall Street Analysts Forecast Growth

BXBLY has been the subject of several research analyst reports. UBS Group upgraded Brambles from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. The Goldman Sachs Group upgraded Brambles to a “neutral” rating and set a $19.34 target price for the company in a research report on Tuesday, May 19th. Finally, Zacks Research cut Brambles from a “hold” rating to a “strong sell” rating in a research 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.34.

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.