Short Interest in Brambles Ltd. (OTCMKTS:BXBLY) Decreases By 85.4%

Brambles Ltd. (OTCMKTS:BXBLY) was the target of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 6,373 shares, a decline of 85.4% from the July 30th total of 43,597 shares. Based on an average trading volume of 82,899 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BXBLY. The Goldman Sachs Group upgraded shares of Brambles to a “neutral” rating and set a $19.34 target price for the company in a report on Tuesday, May 19th. Zacks Research upgraded Brambles from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, UBS Group upgraded Brambles from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Brambles presently has an average rating of “Hold” and a consensus price target of $19.34.

Brambles Stock Performance

Shares of Brambles stock opened at $28.00 on Friday. The firm’s 50 day moving average price is $27.25 and its 200-day moving average price is $29.39. Brambles has a 52-week low of $22.70 and a 52-week high of $36.00. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 0.56.

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.