Close Brothers Group (LON:CBG) Raised to Buy at Shore Capital Group

Close Brothers Group (LON:CBG) was upgraded by equities research analysts at Shore Capital Group to a “buy” rating in a research note issued on Friday, MarketBeat Ratings reports.

CBG has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Close Brothers Group from GBX 550 to GBX 570 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Royal Bank Of Canada upgraded Close Brothers Group to an “outperform” rating and raised their price objective for the stock from GBX 475 to GBX 625 in a report on Friday, January 16th. Finally, Peel Hunt restated an “add” rating and issued a GBX 300 price target on shares of Close Brothers Group in a report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Close Brothers Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 502.50.

Close Brothers Group Stock Performance

Shares of LON CBG traded up GBX 3 during midday trading on Friday, hitting GBX 349. 4,217,406 shares of the stock traded hands, compared to its average volume of 1,074,237. The firm has a market capitalization of £525.40 million, a P/E ratio of -5.22, a PEG ratio of 1.87 and a beta of 1.18. Close Brothers Group has a one year low of GBX 246.80 and a one year high of GBX 563.50. The firm has a 50-day moving average of GBX 479.75 and a two-hundred day moving average of GBX 470.48.

Close Brothers Group (LON:CBG) last announced its earnings results on Tuesday, March 17th. The company reported GBX 27.10 EPS for the quarter. Close Brothers Group had a negative return on equity of 2.03% and a negative net margin of 4.66%. Equities analysts forecast that Close Brothers Group will post 66.0070671 earnings per share for the current fiscal year.

Insider Activity

In other Close Brothers Group news, insider Mike Morgan purchased 2,841 shares of the firm’s 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. Insiders have acquired a total of 2,902 shares of company stock worth $1,469,952 over the last ninety days. 2.19% of the stock is owned by corporate 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.