Close Brothers Group (LON:CBG) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Close Brothers Group's share price rose above its 200-day moving average of GBX 347.59 ($4.69), reaching a high of GBX 563.50 ($7.61) during trading.
• Analysts have mixed ratings on the stock, with three holding a "buy" rating and three a "hold" rating, resulting in an average price target of GBX 468.33 ($6.32).
• Close Brothers Group, a merchant banking company, provides various financial services including debt factoring, asset-based lending, and financing for residential housing and SMEs.

Close Brothers Group plc (LON:CBG - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 347.59 ($4.71) and traded as high as GBX 563.50 ($7.64). Close Brothers Group shares last traded at GBX 546 ($7.40), with a volume of 824,660 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Peel Hunt reissued a "hold" rating and issued a GBX 327 ($4.43) price objective on shares of Close Brothers Group in a research note on Friday, July 25th. Shore Capital reissued a "hold" rating and issued a GBX 370 ($5.01) price objective on shares of Close Brothers Group in a research note on Friday, July 25th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a GBX 463 ($6.28) price objective on shares of Close Brothers Group in a research note on Monday, August 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Close Brothers Group presently has a consensus rating of "Moderate Buy" and an average target price of GBX 468.33 ($6.35).

Close Brothers Group Stock Performance

The company has a 50-day simple moving average of GBX 415.64 and a 200 day simple moving average of GBX 352.14. The company has a market capitalization of £777.42 million, a P/E ratio of 7.77, a P/E/G ratio of 1.87 and a beta of 0.82.

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.