Close Brothers Group (LON:CBG) Trading 23.4% Higher - Should You Buy?

Key Points

• Shares of Close Brothers Group plc rose 23.4% during trading, reaching a high of GBX 533 ($7.08) before closing at GBX 490.80 ($6.52).
• The stock currently has an average rating of "Moderate Buy" from analysts, with a price target of GBX 468.33 ($6.22).
• Close Brothers Group operates in financial services, focusing on small businesses and individuals in the UK, with offerings that include banking and insurance services.

Shares of Close Brothers Group plc (LON:CBG - Get Free Report) rose 23.4% during trading on Monday . The stock traded as high as GBX 533 ($7.08) and last traded at GBX 490.80 ($6.52). Approximately 52,919,832 shares were traded during mid-day trading, an increase of 2,684% from the average daily volume of 1,900,990 shares. The stock had previously closed at GBX 397.80 ($5.28).

Analyst Ratings Changes

CBG has been the topic of several analyst reports. Peel Hunt reaffirmed a "hold" rating and issued a GBX 327 ($4.34) target price on shares of Close Brothers Group in a report on Friday, July 25th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 463 ($6.15) target price on shares of Close Brothers Group in a report on Monday. Finally, Shore Capital reaffirmed a "hold" rating and issued a GBX 370 ($4.91) target price 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of GBX 468.33 ($6.22).

Close Brothers Group Stock Up 23.5%

The business's 50-day moving average price is GBX 376.05 and its 200-day moving average price is GBX 335.20. The firm has a market capitalization of £740.35 million, a PE ratio of 7.40, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

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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