Brokerages Set Close Brothers Group plc (LON:CBG) Price Target at GBX 624

Close Brothers Group plc (LON:CBG) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is GBX 624 ($8.36).

A number of equities analysts have commented on the company. Royal Bank of Canada upgraded Close Brothers Group to an “outperform” rating and lifted their target price for the company from GBX 375 ($5.02) to GBX 620 ($8.30) in a research note on Thursday, August 29th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Close Brothers Group in a research note on Friday, July 5th. They issued a “buy” rating and a GBX 610 ($8.17) target price on the stock.

Close Brothers Group Stock Performance

Close Brothers Group stock opened at GBX 417 ($5.58) on Wednesday. Close Brothers Group has a 1 year low of GBX 278 ($3.72) and a 1 year high of GBX 911.50 ($12.21). The firm’s 50-day moving average is GBX 504.37 and its 200-day moving average is GBX 467.84. The company has a market cap of £627.54 million, a P/E ratio of 441.26, a PEG ratio of 1.87 and a beta of 0.82.

Insider Buying and Selling at Close Brothers Group

In related news, insider Mike Morgan sold 7,985 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of GBX 429 ($5.74), for a total value of £34,255.65 ($45,869.91). In other news, insider Michael N. Biggs purchased 3,500 shares of the stock in a transaction dated Tuesday, September 24th. The shares were bought at an average cost of GBX 416 ($5.57) per share, for a total transaction of £14,560 ($19,496.52). Also, insider Mike Morgan sold 7,985 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of GBX 429 ($5.74), for a total value of £34,255.65 ($45,869.91). Insiders have acquired 3,590 shares of company stock valued at $1,501,096 in the last quarter. Corporate 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.