Brambles (OTCMKTS:BXBLY) Sees Strong Trading Volume – Still a Buy?

Brambles Ltd. (OTCMKTS:BXBLY) shares saw unusually-strong trading volume on Monday . Approximately 109,555 shares changed hands during trading, an increase of 35% from the previous session’s volume of 81,402 shares.The stock last traded at $26.5925 and had previously closed at $26.87.

Wall Street Analyst Weigh In

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

Brambles Price Performance

The business has a 50-day simple moving average of $29.06 and a two-hundred day simple moving average of $30.85.

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.