Shore Capital Reaffirms Buy Rating for Close Brothers Group (LON:CBG)

Shore Capital reaffirmed their buy rating on shares of Close Brothers Group (LON:CBG) in a research report report published on Monday morning, Marketbeat Ratings reports.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada upgraded Close Brothers Group to an outperform rating and boosted their target price for the stock from GBX 375 ($4.95) to GBX 620 ($8.19) in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Close Brothers Group in a report on Friday, July 5th. They set a buy rating and a GBX 610 ($8.06) price target for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of GBX 624 ($8.24).

Close Brothers Group Stock Performance

CBG opened at GBX 527.50 ($6.97) on Monday. The business has a 50 day moving average price of GBX 509.37 and a 200 day moving average price of GBX 465.64. Close Brothers Group has a twelve month low of GBX 278 ($3.67) and a twelve month high of GBX 911.50 ($12.04). The firm has a market cap of £793.83 million, a P/E ratio of 555.26, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Insider Transactions at Close Brothers Group

In other news, insider Mike Morgan sold 7,985 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of GBX 429 ($5.67), for a total transaction of £34,255.65 ($45,251.85). Insiders acquired a total of 90 shares of company stock worth $45,096 over the last three months. 2.93% of the stock is currently owned by 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.