Close Brothers Group (LON:CBG) Stock Passes Above 200 Day Moving Average – What’s Next?

Close Brothers Group plc (LON:CBG) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 282.45 ($3.76) and traded as high as GBX 302.40 ($4.02). Close Brothers Group shares last traded at GBX 295.40 ($3.93), with a volume of 487,791 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CBG. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a GBX 430 ($5.72) price target on shares of Close Brothers Group in a research note on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Close Brothers Group from GBX 610 ($8.11) to GBX 600 ($7.98) and set a “hold” rating on the stock in a research report on Thursday, February 13th.

Close Brothers Group Trading Down 1.2 %

The stock has a market cap of £445.06 million, a PE ratio of 4.45, a P/E/G ratio of 1.87 and a beta of 0.82. The business has a fifty day simple moving average of GBX 306.82 and a two-hundred day simple moving average of GBX 281.61.

Close Brothers Group (LON:CBG) last issued its quarterly earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.41) earnings per share for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. On average, research analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael N. Biggs purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of GBX 288 ($3.83) per share, for a total transaction of £14,400 ($19,146.39). 2.91% of the stock is owned by company insiders.

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.