Close Brothers Group (LON:CBG) Trading 21.9% Higher - Still a Buy?

Key Points

• Close Brothers Group plc's shares rose 21.9% to GBX 485 ($6.44) on Monday, marking a significant increase from its previous close of GBX 397.80 ($5.28).
• The company's stock has a consensus rating of "Moderate Buy" with an average target price of GBX 468.33 ($6.22) based on recent assessments from multiple research firms.
• Close Brothers Group operates in various segments including Commercial, Retail, Property, Asset Management, and Securities, providing a range of financial services to small businesses and individuals in the UK.

Shares of Close Brothers Group plc (LON:CBG - Get Free Report) traded up 21.9% on Monday . The company traded as high as GBX 533 ($7.08) and last traded at GBX 485 ($6.44). 52,501,320 shares were traded during mid-day trading, an increase of 2,666% from the average session volume of 1,898,181 shares. The stock had previously closed at GBX 397.80 ($5.28).

Analyst Ratings Changes

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

Close Brothers Group Stock Up 23.5%

The business's 50 day moving average is GBX 376.05 and its 200-day moving average is GBX 335.20. The firm has a market cap of £740.35 million, a P/E ratio of 7.40, 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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