Close Brothers Group (LON:CBG) Trading 18.9% Higher – Should You Buy?

Close Brothers Group plc (LON:CBG) shares were up 18.9% during trading on Tuesday . The company traded as high as GBX 303.96 ($3.74) and last traded at GBX 291.05 ($3.58). Approximately 39,303,023 shares changed hands during trading, an increase of 536% from the average daily volume of 6,178,042 shares. The stock had previously closed at GBX 244.80 ($3.01).

Analysts Set New Price Targets

Several equities analysts have issued reports on CBG shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 610 ($7.51) price target on shares of Close Brothers Group in a research note on Friday, November 22nd. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 556.60 ($6.85).

Close Brothers Group Stock Up 0.6 %

The business has a 50-day moving average price of GBX 225.09 and a two-hundred day moving average price of GBX 363.51. The company has a market capitalization of £466.22 million, a price-to-earnings ratio of 516.33, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Insiders Place Their Bets

In other Close Brothers Group news, insider Mike Morgan sold 10,885 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,294.53). Corporate insiders own 2.91% 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.