Close Brothers Group (LON:CBG) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Close Brothers Group plc's stock price has crossed above its 200-day moving average, hitting a high of GBX 495 ($6.69) and last trading at GBX 479.60 ($6.48).
• Analysts have given mixed ratings for the stock, with two analysts recommending buy, five hold, and a consensus price target of GBX 464.29.
• The company, a merchant banking group, provides a variety of financial services including debt factoring, asset-based lending, and financing for small businesses in the UK.

Close Brothers Group plc (LON:CBG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 380.16 ($5.14) and traded as high as GBX 495 ($6.69). Close Brothers Group shares last traded at GBX 479.60 ($6.48), with a volume of 431,842 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Shore Capital reiterated a "hold" rating and set a GBX 370 price objective on shares of Close Brothers Group in a research note on Friday, July 25th. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 463 price objective on shares of Close Brothers Group in a research note on Monday, August 4th. UBS Group reiterated a "neutral" rating and set a GBX 535 price objective on shares of Close Brothers Group in a research note on Monday, September 15th. Peel Hunt reissued a "hold" rating and issued a GBX 327 target price on shares of Close Brothers Group in a report on Friday, July 25th. Finally, Royal Bank Of Canada cut Close Brothers Group to a "sector perform" rating and set a GBX 525 price target for the company. in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of GBX 464.29.

Close Brothers Group Price Performance

The company has a 50 day moving average price of GBX 471.19 and a two-hundred day moving average price of GBX 380.16. The stock has a market cap of £727.32 million, a PE ratio of -704.37, 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.

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