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

Brambles Ltd. (OTCMKTS:BXBLY) gapped up prior to trading on Friday. The stock had previously closed at $27.23, but opened at $28.30. Brambles shares last traded at $28.00, with a volume of 3,385 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research lowered Brambles from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.34.

Brambles Price Performance

The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $27.20 and its two-hundred day moving average is $27.87.

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.