Close Brothers Group (LON:CBG) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Close Brothers Group plc (LON:CBG)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 474.03 and traded as high as GBX 515.46. Close Brothers Group shares last traded at GBX 511, with a volume of 261,399 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CBG. Peel Hunt reissued an “add” rating and issued a GBX 300 price objective on shares of Close Brothers Group in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Close Brothers Group from GBX 550 to GBX 570 and gave the company a “buy” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods cut their target price on shares of Close Brothers Group from GBX 640 to GBX 580 and set an “outperform” rating for the company in a research note on Friday, October 10th. Panmure Gordon restated a “hold” rating and set a GBX 500 price target on shares of Close Brothers Group in a research note on Thursday, October 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 400 price target on shares of Close Brothers Group in a report on Thursday, October 16th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Close Brothers Group presently has a consensus rating of “Moderate Buy” and an average price target of GBX 502.50.

Close Brothers Group Price Performance

The stock has a 50-day moving average of GBX 497.29 and a 200 day moving average of GBX 474.03. The stock has a market capitalization of £769.20 million, a price-to-earnings ratio of -7.64, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last posted its quarterly earnings results on Thursday, December 11th. The company reported GBX 59.30 earnings per share for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. Sell-side analysts anticipate that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal year.

Insider Transactions at Close Brothers Group

In related news, insider Mike Morgan bought 2,841 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was bought at an average cost of GBX 507 per share, for a total transaction of £14,403.87. Company insiders own 2.19% 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.