Close Brothers Group (LON:CBG) Shares Pass 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) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 347.59 ($4.70) and traded as high as GBX 563.50 ($7.62). Close Brothers Group shares last traded at GBX 546 ($7.39), with a volume of 824,660 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CBG shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 463 ($6.26) price objective on shares of Close Brothers Group in a research note on Monday, August 4th. Peel Hunt reissued a "hold" rating and set a GBX 327 ($4.42) price target on shares of Close Brothers Group in a research report on Friday, July 25th. Finally, Shore Capital reissued a "hold" rating and set a GBX 370 ($5.01) price target on shares of Close Brothers Group in a research report on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. 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 ($6.34).

Close Brothers Group Stock Down 0.8%

The firm has a fifty day moving average price of GBX 411.81 and a 200-day moving average price of GBX 350.39. The firm has a market cap of £797.76 million, a price-to-earnings ratio of 7.98, a PEG 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.