Brambles (OTCMKTS:BXBLY) Shares Gap Up – Time to Buy?

Brambles Ltd. (OTCMKTS:BXBLY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $26.09, but opened at $27.06. Brambles shares last traded at $27.06, with a volume of 456 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upgraded Brambles to a “neutral” rating and set a $19.34 price objective for the company in a report on Tuesday, May 19th. UBS Group raised Brambles from a “hold” rating to a “buy” rating in a research note on Monday, May 18th. Finally, Zacks Research downgraded Brambles from a “hold” rating to a “strong sell” rating in a report on Friday, May 22nd. 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.34.

Brambles Stock Performance

The stock has a 50 day simple moving average of $26.91 and a 200-day simple moving average of $30.28.

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.