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

Shares of Brambles Ltd. (OTCMKTS:BXBLY) gapped up prior to trading on Friday . The stock had previously closed at $26.00, but opened at $27.78. Brambles shares last traded at $26.7150, with a volume of 8,495 shares trading hands.

Wall Street Analysts Forecast Growth

BXBLY has been the topic of several recent research reports. UBS Group upgraded shares of Brambles from a “hold” rating to a “buy” rating in a report on Monday, May 18th. The Goldman Sachs Group raised shares of Brambles to a “neutral” rating and set a $19.34 price target for the company in a research report on Tuesday, May 19th. Finally, Zacks Research downgraded shares of Brambles from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Brambles currently has a consensus rating of “Hold” and an average price target of $19.34.

Brambles Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 0.67 and a quick ratio of 0.64. The company has a 50-day moving average price of $27.38 and a 200 day moving average price of $28.98.

About Brambles

Brambles Limited is an Australian supply chain logistics company best known for operating the CHEP pallet and reusable packaging pooling businesses. Through its pooling model, Brambles provides, manages and reuses pallets, crates, containers and other logistical assets that help manufacturers, distributors and retailers move goods through supply chains.

CHEP’s products are used across industries including consumer goods, fresh produce, beverage, retail and automotive manufacturing. The company’s services include asset pooling, collection, inspection, repair, repositioning and redistribution, allowing customers to share standardized equipment rather than purchase and manage their own pools of transport assets.

Brambles traces its origins to an Australian business established in the 19th century and has expanded into an international supply chain network.