Close Brothers Group (LON:CBG) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Close Brothers Group plc has seen its share price rise above its 200-day moving average, trading last at GBX 472.80 ($6.39) after reaching as high as GBX 481.20 ($6.50).
• Recent analyst ratings are mixed, with two analysts rating it as a Buy and four maintaining a Hold rating, while the average target price is GBX 452.50.
• The company, which provides banking and financial services to SMEs and individuals in the UK, has a market cap of £711.52 million and a notably high P/E ratio of -689.21.

Close Brothers Group plc (LON:CBG - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 367.23 ($4.96) and traded as high as GBX 481.20 ($6.50). Close Brothers Group shares last traded at GBX 472.80 ($6.39), with a volume of 16,153,467 shares trading hands.

Analyst Upgrades and Downgrades

CBG has been the topic of a number of recent research reports. Peel Hunt restated a "hold" rating and issued a GBX 327 target price on shares of Close Brothers Group in a research note on Friday, July 25th. Royal Bank Of Canada downgraded Close Brothers Group to a "sector perform" rating and set a GBX 525 target price on the stock. in a research note on Monday, August 18th. Canaccord Genuity Group restated a "buy" rating and issued a GBX 463 target price on shares of Close Brothers Group in a research note on Monday, August 4th. Finally, Shore Capital restated a "hold" rating and issued a GBX 370 target price on shares of Close Brothers Group in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of GBX 452.50.

Close Brothers Group Stock Performance

The company has a market cap of £711.52 million, a P/E ratio of -689.21, a P/E/G ratio of 1.87 and a beta of 0.82. The firm has a 50 day moving average price of GBX 449.91 and a 200-day moving average price of GBX 367.23.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.