Close Brothers Group (LON:CBG) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Close Brothers Group's stock recently crossed above its 200-day moving average, trading as high as GBX 449.80 ($6.04) before settling at GBX 443.55 ($5.96) with a significant trading volume of 667,169 shares.
• Several analysts have revised their price targets for the stock, with Keefe, Bruyette & Woods lowering their target from GBX 640 to GBX 580 while maintaining an "outperform" rating.
• With a market cap of £667.65 million, the company reported a net margin of 7.79% and an earnings per share (EPS) of GBX 59.30 in its latest financial results.

Shares of Close Brothers Group plc (LON:CBG - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 401.78 ($5.39) and traded as high as GBX 449.80 ($6.04). Close Brothers Group shares last traded at GBX 443.55 ($5.96), with a volume of 667,169 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Close Brothers Group from GBX 640 to GBX 580 and set an "outperform" rating on the stock in a research report on Friday, October 10th. Shore Capital reissued a "hold" rating and set a GBX 510 price target on shares of Close Brothers Group in a research report on Friday, October 10th. Panmure Gordon reissued a "hold" rating and set a GBX 500 price target on shares of Close Brothers Group in a research report on Thursday, October 9th. Peel Hunt reissued a "hold" rating and set a GBX 327 price target on shares of Close Brothers Group in a research report on Friday, July 25th. Finally, UBS Group reissued a "neutral" rating and set a GBX 535 price target on shares of Close Brothers Group in a research report on Monday, September 15th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of GBX 494.

Close Brothers Group Stock Down 3.0%

The stock's 50-day simple moving average is GBX 485.94 and its 200 day simple moving average is GBX 401.78. The company has a market cap of £667.65 million, a price-to-earnings ratio of -663.00, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG - Get Free Report) last posted its earnings results on Tuesday, September 30th. The company reported GBX 59.30 EPS for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. On average, sell-side analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

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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