Brambles Ltd. (OTCMKTS:BXBLY) Short Interest Update

Brambles Ltd. (OTCMKTS:BXBLY) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totaling 15,479 shares, a decrease of 72.0% from the April 30th total of 55,242 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 104,508 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Brambles to a “neutral” rating and set a $19.34 target price for the company in a research report on Tuesday, May 19th. UBS Group raised Brambles from a “hold” rating to a “buy” rating in a research note on Monday, May 18th. Finally, Zacks Research cut Brambles from a “hold” rating to a “strong sell” rating in a research note on Friday, May 22nd. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.34.

Brambles Stock Up 0.5%

Shares of OTCMKTS:BXBLY opened at $23.87 on Friday. The company has a 50-day moving average price of $30.39 and a 200-day moving average price of $31.29. Brambles has a 12 month low of $22.70 and a 12 month high of $36.00.

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.