Close Brothers Group (LON:CBG) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Close Brothers Group plc (LON:CBG) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 477.26 and traded as high as GBX 508. Close Brothers Group shares last traded at GBX 495.71, with a volume of 7,926,524 shares.

Analysts Set New Price Targets

CBG has been the subject of a number of research analyst reports. Shore Capital Group restated a “hold” rating and issued a GBX 510 price target on shares of Close Brothers Group in a research report on Thursday, November 20th. Peel Hunt reissued an “add” rating and issued a GBX 300 price objective on shares of Close Brothers Group in a research note on Tuesday, November 25th. Royal Bank Of Canada upgraded 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. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 502.50.

Close Brothers Group Trading Down 0.5%

The stock has a market cap of £740.04 million, a price-to-earnings ratio of -7.35, a P/E/G ratio of 1.87 and a beta of 0.82. The firm’s 50 day moving average is GBX 504.48 and its two-hundred day moving average is GBX 477.67.

Close Brothers Group (LON:CBG) last issued 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%. As a group, equities analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

Insider Buying and Selling

In other Close Brothers Group news, insider Mike Morgan purchased 2,841 shares of the business’s stock in a transaction on Monday, January 12th. The stock was bought at an average cost of GBX 507 per share, for a total transaction of £14,403.87. Insiders own 2.19% of the company’s stock.

About Close Brothers Group

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.