Brambles (OTCMKTS:BXBLY) Sees Strong Trading Volume – Here’s Why

Brambles Ltd. (OTCMKTS:BXBLY) shares saw strong trading volume on Monday . 195,168 shares were traded during trading, an increase of 178% from the previous session’s volume of 70,165 shares.The stock last traded at $23.96 and had previously closed at $23.87.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Zacks Research lowered Brambles from a “hold” rating to a “strong sell” rating in a research report on Friday, May 22nd. UBS Group raised Brambles from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. Finally, The Goldman Sachs Group raised Brambles to a “neutral” rating and set a $19.34 target price on the stock in a research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Brambles currently has a consensus rating of “Hold” and a consensus price target of $19.34.

Brambles Price Performance

The stock has a fifty day moving average price of $30.23 and a two-hundred day moving average price of $31.23.

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.