Close Brothers Group (LON:CBG) Upgraded at Royal Bank Of Canada

Close Brothers Group (LON:CBG) was upgraded by Royal Bank Of Canada to an “outperform” rating in a note issued to investors on Friday,London Stock Exchange reports. The brokerage currently has a GBX 625 target price on the stock, up from their previous target price of GBX 475. Royal Bank Of Canada’s target price would indicate a potential upside of 17.78% from the company’s current price.

A number of other research analysts have also weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 400 price objective on shares of Close Brothers Group in a research report on Thursday, October 16th. Shore Capital restated a “hold” rating and set a GBX 510 price target on shares of Close Brothers Group in a report on Thursday, November 20th. Panmure Gordon reaffirmed a “hold” rating and issued a GBX 500 price target on shares of Close Brothers Group in a research report on Thursday, October 9th. Keefe, Bruyette & Woods reduced their price objective on shares of Close Brothers Group from GBX 640 to GBX 580 and set an “outperform” rating for the company in a research note on Friday, October 10th. Finally, Peel Hunt reiterated an “add” rating and issued a GBX 300 target price on shares of Close Brothers Group in a research note on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 506.25.

Close Brothers Group Price Performance

LON:CBG traded up GBX 21.15 during trading hours on Friday, hitting GBX 530.65. The company had a trading volume of 3,055,802 shares, compared to its average volume of 601,888. The stock has a 50-day moving average price of GBX 470.27 and a 200 day moving average price of GBX 461.38. The company has a market capitalization of £798.79 million, a PE ratio of -7.93, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. Close Brothers Group has a 52 week low of GBX 224.20 and a 52 week high of GBX 563.50.

Close Brothers Group (LON:CBG) last released its earnings results on Thursday, December 11th. The company reported GBX 59.30 earnings per share for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. Analysts anticipate that Close Brothers Group will post 66.0070671 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mike Morgan purchased 2,841 shares of the stock in a transaction dated Monday, January 12th. The shares were purchased at an average cost of GBX 507 per share, with a total value of £14,403.87. Corporate insiders own 2.19% 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.