Close Brothers Group (LON:CBG) Earns Buy Rating from Shore Capital

by · The Markets Daily

Shore Capital reissued their buy rating on shares of Close Brothers Group (LON:CBG – Free Report) in a research report report published on Monday morning, MarketBeat Ratings reports.

CBG has been the subject of a number of other research reports. Royal Bank of Canada raised shares of Close Brothers Group to an outperform rating and increased their target price for the stock from GBX 375 ($4.95) to GBX 620 ($8.19) in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Close Brothers Group in a report on Friday, July 5th. They set a buy rating and a GBX 610 ($8.06) target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Close Brothers Group presently has a consensus rating of Moderate Buy and an average price target of GBX 624 ($8.24).

View Our Latest Stock Analysis on Close Brothers Group

Close Brothers Group Price Performance

Shares of CBG stock opened at GBX 498 ($6.58) on Monday. Close Brothers Group has a 1-year low of GBX 278 ($3.67) and a 1-year high of GBX 911.50 ($12.04). The firm’s 50-day simple moving average is GBX 509.35 and its 200-day simple moving average is GBX 465.86. The firm has a market cap of £749.44 million, a P/E ratio of 524.21, a PEG ratio of 1.87 and a beta of 0.82.

Insider Activity

In related news, insider Mike Morgan sold 7,985 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of GBX 429 ($5.67), for a total value of £34,255.65 ($45,251.85). Over the last quarter, insiders bought 90 shares of company stock valued at $45,096. 2.93% of the stock is currently owned by company insiders.

About Close Brothers Group

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Close Brothers Group plc, a merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.

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