Close Brothers Group (LON:CBG) Trading 20.5% Higher – Still a Buy?

Close Brothers Group plc (LON:CBG)’s stock price traded up 20.5% during mid-day trading on Tuesday . The company traded as high as GBX 303.96 ($3.74) and last traded at GBX 295 ($3.63). 39,765,895 shares traded hands during mid-day trading, an increase of 540% from the average session volume of 6,213,588 shares. The stock had previously closed at GBX 244.80 ($3.01).

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 610 ($7.51) price target on shares of Close Brothers Group in a research note on Friday, November 22nd. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Close Brothers Group presently has an average rating of “Buy” and an average price target of GBX 556.60 ($6.85).

Close Brothers Group Stock Down 0.7 %

The firm’s 50 day simple moving average is GBX 225.09 and its two-hundred day simple moving average is GBX 363.51. The stock has a market cap of £459.90 million, a P/E ratio of 509.33, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Insider Buying and Selling at Close Brothers Group

In other news, insider Mike Morgan sold 10,885 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,294.53). 2.91% 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.