Close Brothers Group (LON:CBG) Stock Price Up 21.6% – Still a Buy?

Close Brothers Group plc (LON:CBG) shares traded up 21.6% on Tuesday . The company traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.67). Approximately 4,494,428 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 3,694,198 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 610 ($7.52) target price on shares of Close Brothers Group in a report on Friday, November 22nd. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of GBX 556.60 ($6.86).

Close Brothers Group Price Performance

The company has a market cap of £447.86 million, a price-to-earnings ratio of 496.00, a PEG ratio of 1.87 and a beta of 0.82. The business’s 50-day simple moving average is GBX 223.28 and its 200-day simple moving average is GBX 364.62.

Insider Activity at Close Brothers Group

In other Close Brothers Group news, insider Mike Morgan sold 10,885 shares of Close Brothers Group stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total value of £26,232.85 ($32,342.31). 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.