Brambles Ltd. (OTCMKTS:BXBLY – Get Free Report) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 49,841 shares, an increase of 1,322.4% from the June 15th total of 3,504 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 286,640 shares, the days-to-cover ratio is presently 0.2 days.
Brambles Stock Down 2.8%
OTCMKTS BXBLY traded down $0.76 on Friday, hitting $26.09. 97,596 shares of the company’s stock were exchanged, compared to its average volume of 91,642. The stock has a 50-day moving average of $27.01 and a 200-day moving average of $30.31. Brambles has a 52 week low of $22.70 and a 52 week high of $36.00.
Wall Street Analyst Weigh In
BXBLY has been the topic of a number of recent analyst reports. Zacks Research cut Brambles from a “hold” rating to a “strong sell” rating in a research report on Friday, May 22nd. UBS Group raised shares of Brambles from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. Finally, The Goldman Sachs Group upgraded shares of Brambles to a “neutral” rating and set a $19.34 price objective 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.34.
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.
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