Brambles Ltd. (OTCMKTS:BXBLY) Stock Short Interest Declines 52.3%

Brambles Ltd. (OTCMKTS:BXBLY) saw a significant decline in short interest in October. As of October 15th, there was short interest totaling 69,184 shares, a decline of 52.3% from the September 30th total of 145,153 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 515,556 shares, the days-to-cover ratio is currently 0.1 days.

Brambles Stock Up 0.4%

OTCMKTS:BXBLY traded up $0.12 during midday trading on Friday, hitting $29.66. 31,986 shares of the stock were exchanged, compared to its average volume of 96,989. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.60 and a quick ratio of 0.57. The business has a 50-day moving average price of $27.48 and a two-hundred day moving average price of $29.19. Brambles has a one year low of $22.70 and a one year high of $36.00.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Brambles from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 15th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.34.

Brambles Company Profile

Brambles Limited is an Australian supply-chain logistics company best known for operating CHEP, a global pooling system for reusable pallets, crates and containers. The company provides shared-use packaging and equipment that help manufacturers, distributors, retailers and agricultural producers move goods through supply chains more efficiently.

CHEP’s platforms support the handling and transportation of products including consumer packaged goods, fresh produce, beverages and industrial materials.