Brambles (OTCMKTS:BXBLY) Shares Gap Down – Should You Sell?

Shares of Brambles Ltd. (OTCMKTS:BXBLY) gapped down before the market opened on Tuesday . The stock had previously closed at $27.74, but opened at $25.64. Brambles shares last traded at $26.22, with a volume of 6,955 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Brambles to a “neutral” rating and set a $19.34 price target for the company in a report on Tuesday, May 19th. Zacks Research lowered Brambles from a “hold” rating to a “strong sell” rating in a research note on Friday, May 22nd. Finally, UBS Group upgraded Brambles from a “hold” rating to a “buy” rating in a report on Monday, May 18th. One 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’s stock. Based on data from MarketBeat, Brambles has a consensus rating of “Hold” and an average price target of $19.34.

Brambles Price Performance

The company’s fifty day moving average is $27.29 and its two-hundred day moving average is $30.39.

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.