Close Brothers Group (LON:CBG) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Close Brothers Group plc (LON:CBG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 478.74 and traded as high as GBX 511.50. Close Brothers Group shares last traded at GBX 495.80, with a volume of 871,171 shares.

Analyst Upgrades and Downgrades

CBG has been the topic of several analyst reports. Royal Bank Of Canada raised shares of Close Brothers Group to an “outperform” rating and lifted their target price for the stock from GBX 475 to GBX 625 in a research report on Friday, January 16th. Peel Hunt reissued an “add” rating and set a GBX 300 target price on shares of Close Brothers Group in a research note on Tuesday, November 25th. Shore Capital Group restated a “hold” rating and issued a GBX 510 target price on shares of Close Brothers Group in a report on Thursday, November 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Close Brothers Group from GBX 550 to GBX 570 and gave the company a “buy” rating in a report on Friday, January 23rd. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Close Brothers Group presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 502.50.

Close Brothers Group Trading Down 0.7%

The business’s 50-day simple moving average is GBX 509.04 and its 200-day simple moving average is GBX 478.27. The company has a market cap of £746.36 million, a PE ratio of -7.41, a P/E/G ratio of 1.87 and a beta of 0.82.

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

Insider Buying and Selling at Close Brothers Group

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