Brambles Ltd. (OTCMKTS:BXBLY) Short Interest Up 587.5% in August

Brambles Ltd. (OTCMKTS:BXBLY) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 43,813 shares, a growth of 587.5% from the August 15th total of 6,373 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 88,244 shares, the short-interest ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group upgraded Brambles from a “hold” rating to a “buy” rating in a report on Monday, May 18th. Zacks Research cut shares of Brambles from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. Finally, The Goldman Sachs Group raised shares of Brambles to a “neutral” rating and set a $19.34 target price for the company in a report 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.34.

Brambles Stock Up 2.6%

OTCMKTS BXBLY opened at $26.67 on Friday. The firm’s 50 day moving average is $27.38 and its 200-day moving average is $28.97. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 0.56. Brambles has a 12-month low of $22.70 and a 12-month high of $36.00.

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.