Brambles (OTCMKTS:BXBLY) Sees Large Volume Increase – Here’s Why

Shares of Brambles Ltd. (OTCMKTS:BXBLY) saw an uptick in trading volume on Monday . 109,555 shares traded hands during mid-day trading, an increase of 35% from the previous session’s volume of 81,402 shares.The stock last traded at $26.5925 and had previously closed at $26.87.

Analyst Ratings Changes

Several brokerages recently issued reports on BXBLY. Zacks Research downgraded Brambles from a “hold” rating to a “strong sell” rating in a report on Friday, May 22nd. UBS Group raised Brambles from a “hold” rating to a “buy” rating in a research note on Monday, May 18th. Finally, The Goldman Sachs Group raised Brambles to a “neutral” rating and set a $19.34 target price on the stock in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.34.

Brambles Stock Performance

The firm has a 50 day simple moving average of $28.83 and a two-hundred day simple moving average of $30.79.

Brambles Company Profile

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.