Brambles (OTCMKTS:BXBLY) Shares Gap Down – Here’s What Happened

Brambles Ltd. (OTCMKTS:BXBLY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $27.56, but opened at $26.76. Brambles shares last traded at $27.6850, with a volume of 66,175 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group raised shares of Brambles from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. Zacks Research cut shares of Brambles from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. Finally, The Goldman Sachs Group upgraded Brambles to a “neutral” rating and set a $19.34 price target for the company in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.34.

Brambles Stock Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.64 and a current ratio of 0.67. The business’s 50 day simple moving average is $27.38 and its 200-day simple moving average is $29.20.

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.