Close Brothers Group (LON:CBG) Shares Cross Above Two Hundred Day Moving Average - Here's Why

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)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 367.23 ($4.99) and traded as high as GBX 481.20 ($6.53). Close Brothers Group shares last traded at GBX 472.80 ($6.42), with a volume of 16,153,467 shares changing hands.

Analysts Set New Price Targets

CBG has been the subject of a number of recent research reports. Royal Bank Of Canada downgraded shares of Close Brothers Group to a "sector perform" rating and set a GBX 525 price objective for the company. in a research report on Monday, August 18th. Shore Capital restated a "hold" rating and issued a GBX 370 target price on shares of Close Brothers Group in a research report on Friday, July 25th. Canaccord Genuity Group restated a "buy" rating and issued a GBX 463 target price on shares of Close Brothers Group in a research report on Monday, August 4th. Finally, Peel Hunt restated a "hold" rating and issued a GBX 327 target price on shares of Close Brothers Group in a research report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of GBX 452.50.

Close Brothers Group Trading Up 2.6%

The stock has a market cap of £740.77 million, a P/E ratio of -717.40, a PEG ratio of 1.87 and a beta of 0.82. The firm's 50-day simple moving average is GBX 457.83 and its 200 day simple moving average is GBX 371.72.

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.