Shore Capital Reaffirms Buy Rating for Close Brothers Group (LON:CBG)

Shore Capital reaffirmed their buy rating on shares of Close Brothers Group (LON:CBG) in a research note released on Thursday morning, MarketBeat reports.

Separately, Royal Bank of Canada upgraded shares of Close Brothers Group to an “outperform” rating and raised their target price for the stock from GBX 375 ($4.72) to GBX 620 ($7.81) in a research note on Thursday, August 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 556.60 ($7.01).

Close Brothers Group Trading Down 3.4 %

CBG stock opened at GBX 207.09 ($2.61) on Thursday. The business’s 50 day simple moving average is GBX 341.36 and its 200 day simple moving average is GBX 434.29. Close Brothers Group has a 1-year low of GBX 179.83 ($2.26) and a 1-year high of GBX 828 ($10.42). The firm has a market capitalization of £311.65 million, a PE ratio of 345.15, a PEG ratio of 1.87 and a beta of 0.82.

Insiders Place Their Bets

In related news, insider Michael N. Biggs bought 3,500 shares of Close Brothers Group stock in a transaction dated Tuesday, September 24th. The shares were bought at an average cost of GBX 416 ($5.24) per share, with a total value of £14,560 ($18,330.61). Insiders have acquired a total of 3,567 shares of company stock worth $1,485,824 in the last quarter. 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.