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

Brambles Ltd. (OTCMKTS:BXBLY) gapped up prior to trading on Friday . The stock had previously closed at $26.64, but opened at $28.40. Brambles shares last traded at $27.39, with a volume of 4,687 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BXBLY. UBS Group raised Brambles from a “hold” rating to a “buy” rating in a research note on Monday, May 18th. Zacks Research raised Brambles from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, 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. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Brambles has an average rating of “Hold” and an average price target of $19.34.

Brambles Stock Performance

The firm has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $29.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.67 and a quick ratio of 0.64.

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.