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

Key Points

• Close Brothers Group shares have recently crossed above their 200-day moving average, trading at GBX 500.10 ($6.73) after reaching a high of GBX 503 ($6.77).
• Analysts have varied ratings on the stock, with two analysts rating it as a Buy and four giving it a Hold rating, setting an average price target of GBX 452.50.
• The company has a market cap of £746.84 million and operates in multiple financial services sectors, catering to small businesses and individuals in the UK.

Close Brothers Group plc (LON:CBG - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 359.66 ($4.84) and traded as high as GBX 503 ($6.77). Close Brothers Group shares last traded at GBX 500.10 ($6.73), with a volume of 477,632 shares.

Analysts Set New Price Targets

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

Close Brothers Group Stock Performance

The company has a fifty day moving average of GBX 431.77 and a two-hundred day moving average of GBX 359.66. The company has a market cap of £746.84 million, a PE ratio of 7.47, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

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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