Close Brothers Group (LON:CBG) Stock Price Up 22% – Time to Buy?

Close Brothers Group plc (LON:CBG) shares were up 22% during trading on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 298.70 ($3.68). Approximately 40,175,391 shares were traded during trading, an increase of 544% from the average daily volume of 6,242,837 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analysts Set New Price Targets

Several research firms have recently commented on CBG. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 610 ($7.52) price objective on shares of Close Brothers Group in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 556.60 ($6.86).

Close Brothers Group Price Performance

The company has a market cap of £447.86 million, a price-to-earnings ratio of 496.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The stock has a 50-day moving average price of GBX 223.28 and a 200 day moving average price of GBX 364.62.

Insider Activity

In other news, insider Mike Morgan sold 10,885 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.97), for a total value of £26,232.85 ($32,346.30). Corporate insiders own 2.91% 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.