Close Brothers Group’s (CBG) Buy Rating Reaffirmed at Shore Capital

Shore Capital reissued their buy rating on shares of Close Brothers Group (LON:CBG) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports.

Separately, Royal Bank of Canada upgraded Close Brothers Group to an “outperform” rating and increased their price objective for the stock from GBX 375 ($4.72) to GBX 620 ($7.81) in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 556.60 ($7.01).

Close Brothers Group Price Performance

LON:CBG opened at GBX 207.09 ($2.61) on Thursday. The business’s 50-day simple moving average is GBX 341.36 and its 200-day simple moving average is GBX 434.29. Close Brothers Group has a fifty-two week low of GBX 179.83 ($2.26) and a fifty-two week high of GBX 828 ($10.42). The stock has a market capitalization of £311.65 million, a PE ratio of 345.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Insider Activity

In related news, insider Michael N. Biggs acquired 3,500 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were bought at an average price of GBX 416 ($5.24) per share, for a total transaction of £14,560 ($18,330.61). Insiders purchased 3,567 shares of company stock worth $1,485,824 in the last quarter. Corporate insiders own 2.91% of the company’s stock.

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.