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

Brambles Ltd. (OTCMKTS:BXBLY)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $26.47, but opened at $27.7292. Brambles shares last traded at $27.85, with a volume of 94,960 shares.

Analysts Set New Price Targets

Separately, Zacks Research cut 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 given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.34.

Brambles Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.57 and a current ratio of 0.60. The company has a 50-day moving average of $27.30 and a 200 day moving average of $28.23.

Brambles Company Profile

Brambles Limited is an Australian supply-chain logistics company best known for its CHEP business, which provides reusable pallets, crates, bins and other platforms used to move, store and protect goods. Rather than selling these assets outright, Brambles operates a pooling model in which customers access a shared fleet of standardized equipment that is collected, inspected, repaired and redistributed for repeated use.

CHEP products support supply chains across the consumer goods, grocery, fresh produce, beverage, manufacturing and retail sectors.