Close Brothers Group (LON:CBG) Trading Up 20.7% – Still a Buy?

Close Brothers Group plc (LON:CBG) shot up 20.7% on Tuesday . The stock traded as high as GBX 301.19 ($3.71) and last traded at GBX 295.43 ($3.64). 37,578,418 shares were traded during trading, an increase of 520% from the average session volume of 6,057,339 shares. The stock had previously closed at GBX 244.80 ($3.01).

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CBG. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 610 ($7.51) price objective on shares of Close Brothers Group in a report on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Close Brothers Group currently has a consensus rating of “Buy” and a consensus target price of GBX 556.60 ($6.85).

Close Brothers Group Stock Performance

The company has a market cap of £460.80 million, a P/E ratio of 510.33, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. 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.

Insider Buying and Selling at Close Brothers Group

In related news, insider Mike Morgan sold 10,885 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,294.53). 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.