Close Brothers Group (LON:CBG) Stock Price Up 22.1% - What's Next?

Key Points

• Close Brothers Group plc shares saw a significant increase of 22.1% during trading, reaching a high of GBX 533 ($7.08) before closing at GBX 485.60 ($6.45).
• Analysts have given the stock a consensus rating of "Moderate Buy", with price targets ranging from GBX 327 ($4.34) to GBX 463 ($6.15).
• The company, with a market cap of £728.00 million, provides financial services including debt factoring and asset management to small businesses and individuals in the UK.

Close Brothers Group plc (LON:CBG - Get Free Report) shares rose 22.1% during trading on Monday . The stock traded as high as GBX 533 ($7.08) and last traded at GBX 485.60 ($6.45). Approximately 51,914,055 shares changed hands during trading, an increase of 2,641% from the average daily volume of 1,894,240 shares. The stock had previously closed at GBX 397.80 ($5.28).

Analysts Set New Price Targets

CBG has been the subject of several analyst reports. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 463 ($6.15) price objective on shares of Close Brothers Group in a report on Monday. Shore Capital reiterated a "hold" rating and set a GBX 370 ($4.91) price objective on shares of Close Brothers Group in a report on Friday, July 25th. Finally, Peel Hunt reiterated a "hold" rating and set a GBX 327 ($4.34) price objective on shares of Close Brothers Group in a report on Friday, July 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of GBX 468.33 ($6.22).

Close Brothers Group Stock Performance

The company has a market cap of £728.00 million, a PE ratio of 7.28, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The stock has a 50 day moving average of GBX 376.05 and a 200-day moving average of GBX 335.20.

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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