Close Brothers Group (LON:CBG) Upgraded by Royal Bank of Canada to Outperform

Royal Bank of Canada upgraded shares of Close Brothers Group (LON:CBG) to an outperform rating in a report issued on Thursday, MarketBeat.com reports. The firm currently has GBX 620 ($8.18) price target on the stock, up from their prior price target of GBX 375 ($4.95).

Several other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Close Brothers Group in a research report on Friday, July 5th. They issued a buy rating and a GBX 610 ($8.04) target price for the company. Shore Capital reaffirmed a buy rating on shares of Close Brothers Group in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Close Brothers Group has an average rating of Moderate Buy and an average target price of GBX 624 ($8.23).

Close Brothers Group Price Performance

Shares of LON CBG opened at GBX 544 ($7.17) on Thursday. Close Brothers Group has a 1-year low of GBX 278 ($3.67) and a 1-year high of GBX 911.50 ($12.02). The business has a 50-day moving average of GBX 486.55 and a 200-day moving average of GBX 447.92. The company has a market capitalization of £818.67 million, a price-to-earnings ratio of 572.63, a PEG ratio of 1.87 and a beta of 0.83.

Insider Activity at Close Brothers Group

In related news, insider Mike Morgan sold 7,985 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of GBX 429 ($5.66), for a total value of £34,255.65 ($45,174.27). Over the last 90 days, insiders acquired 94 shares of company stock valued at $45,010. Insiders own 2.93% of the company’s stock.

About Close Brothers Group

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.