Brambles (OTCMKTS:BXBLY) Sets New 52-Week Low – Here’s What Happened

Brambles Ltd. (OTCMKTS:BXBLY)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $26.3468 and last traded at $26.3468, with a volume of 863 shares trading hands. The stock had previously closed at $31.6830.

Wall Street Analysts Forecast Growth

BXBLY has been the subject of several recent analyst reports. Zacks Research raised shares of Brambles to a “hold” rating in a research note on Thursday, February 5th. The Goldman Sachs Group raised shares of Brambles to a “neutral” rating and set a $19.34 price objective for the company in a research note on Tuesday. Finally, UBS Group raised shares of Brambles to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.34.

Brambles Stock Down 3.9%

The stock’s 50 day simple moving average is $31.67 and its 200 day simple moving average is $31.69.

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.