Close Brothers Group (LON:CBG) Trading 22.7% Higher – Time to Buy?

Close Brothers Group plc (LON:CBG)’s stock price was up 22.7% during mid-day trading on Tuesday . The company traded as high as GBX 303.96 ($3.75) and last traded at GBX 300.32 ($3.70). Approximately 39,004,117 shares were traded during mid-day trading, an increase of 533% from the average daily volume of 6,159,175 shares. The stock had previously closed at GBX 244.80 ($3.02).

Wall Street Analysts Forecast Growth

CBG has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 610 ($7.52) price target on shares of Close Brothers Group in a research note on Friday, November 22nd. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 556.60 ($6.86).

Close Brothers Group Stock Up 22.6 %

The firm has a market cap of £451.62 million, a price-to-earnings ratio of 500.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The stock has a fifty day moving average price of GBX 223.28 and a 200-day moving average price of GBX 364.62.

Insider Activity at Close Brothers Group

In other Close Brothers Group news, insider Mike Morgan sold 10,885 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total value of £26,232.85 ($32,346.30). Company 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.