Close Brothers Group (LON:CBG) Shares Up 23.5% - Still a Buy?

Key Points

• Close Brothers Group's shares soared by 23.5% during trading on Monday, reaching as high as GBX 533 ($7.08).
• Equities research analysts are mixed on the stock, with Canaccord Genuity recommending a "buy" rating and a target price of GBX 463 ($6.15), while others maintained "hold" ratings with lower price targets.
• The company's market capitalization stands at £740.35 million, with a price-to-earnings ratio of 7.40 and an average analyst rating of "Moderate Buy".

Close Brothers Group plc (LON:CBG - Get Free Report) shares were up 23.5% during trading on Monday . The company traded as high as GBX 533 ($7.08) and last traded at GBX 491.40 ($6.53). Approximately 8,181,824 shares changed hands during mid-day trading, an increase of 411% from the average daily volume of 1,600,735 shares. The stock had previously closed at GBX 397.80 ($5.29).

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 463 ($6.15) price objective on shares of Close Brothers Group in a research report on Monday. Peel Hunt reiterated a "hold" rating and set a GBX 327 ($4.35) price target on shares of Close Brothers Group in a research note on Friday, July 25th. Finally, Shore Capital reiterated a "hold" rating and set a GBX 370 ($4.92) price target on shares of Close Brothers Group in a report on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of GBX 468.33 ($6.22).

Close Brothers Group Price Performance

The stock has a market capitalization of £740.35 million, a price-to-earnings ratio of 7.40, a P/E/G ratio of 1.87 and a beta of 0.82. The company's 50-day simple moving average is GBX 379.02 and its 200-day simple moving average is GBX 337.70.

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.

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