Close Brothers Group (LON:CBG) Given Buy Rating at Shore Capital

Close Brothers Group (LON:CBG)‘s stock had its “buy” rating restated by equities researchers at Shore Capital in a research note issued to investors on Wednesday, Digital Look reports.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a GBX 375 ($4.77) target price on shares of Close Brothers Group in a report on Wednesday, March 20th. Berenberg Bank reduced their target price on Close Brothers Group from GBX 1,100 ($13.98) to GBX 425 ($5.40) and set a “buy” rating for the company in a report on Thursday, February 15th. Finally, Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 463 ($5.88) price target on shares of Close Brothers Group in a research note on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 577.80 ($7.34).

Close Brothers Group Stock Down 6.3 %

LON:CBG traded down GBX 31 ($0.39) during midday trading on Wednesday, reaching GBX 460 ($5.85). The stock had a trading volume of 5,892,492 shares, compared to its average volume of 1,007,548. The firm has a fifty day simple moving average of GBX 442.82 and a two-hundred day simple moving average of GBX 563.59. Close Brothers Group has a 12-month low of GBX 278 ($3.53) and a 12-month high of GBX 998.50 ($12.69). The stock has a market cap of £692.25 million, a P/E ratio of 484.21, a P/E/G ratio of 1.87 and a beta of 0.80.

Insider Activity at Close Brothers Group

In other news, insider Michael N. Biggs bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average price of GBX 411 ($5.22) per share, with a total value of £12,330 ($15,671.07). In other news, insider Mark Pain purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were acquired at an average cost of GBX 444 ($5.64) per share, with a total value of £17,760 ($22,572.45). Also, insider Michael N. Biggs purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were purchased at an average cost of GBX 411 ($5.22) per share, for a total transaction of £12,330 ($15,671.07). In the last quarter, insiders bought 8,668 shares of company stock valued at $3,718,116. 2.11% of the stock is owned by 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.