Close Brothers Group plc (LON:CBG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Close Brothers Group plc (LON:CBG) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is GBX 624 ($8.36).

Several brokerages have recently issued reports on CBG. Royal Bank of Canada raised shares of Close Brothers Group to an “outperform” rating and boosted their price objective for the company from GBX 375 ($5.02) to GBX 620 ($8.30) in a research note on Thursday, August 29th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Close Brothers Group in a report on Friday, July 5th. They set a “buy” rating and a GBX 610 ($8.17) target price for the company.

Insider Activity

In related news, insider Michael N. Biggs purchased 3,500 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was purchased at an average price of GBX 416 ($5.57) per share, for a total transaction of £14,560 ($19,496.52). In other Close Brothers Group news, insider Mike Morgan sold 7,920 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of GBX 506 ($6.78), for a total transaction of £40,075.20 ($53,662.56). Also, insider Michael N. Biggs acquired 3,500 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average cost of GBX 416 ($5.57) per share, with a total value of £14,560 ($19,496.52). Over the last quarter, insiders purchased 3,590 shares of company stock worth $1,501,096. 2.93% of the stock is currently owned by corporate insiders.

Close Brothers Group Stock Performance

Close Brothers Group stock opened at GBX 417 ($5.58) on Wednesday. The company has a market cap of £627.54 million, a price-to-earnings ratio of 441.26, a PEG ratio of 1.87 and a beta of 0.82. Close Brothers Group has a 1 year low of GBX 278 ($3.72) and a 1 year high of GBX 911.50 ($12.21). The firm has a 50 day moving average price of GBX 504.37 and a 200 day moving average price of GBX 467.84.

Close Brothers Group Company Profile

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.