Close Brothers Group (LON:CBG) Stock Price Up 20.5% - What's Next?

Key Points

• Close Brothers Group stock rose 20.5% on Monday, reaching a high of GBX 533 ($7.08) before trading at GBX 479.40 ($6.37), with a notable increase in trading volume.
• Analysts have given the stock a mixed rating, with three holding and three buying, resulting in an average rating of "Moderate Buy" and a price target of GBX 468.33 ($6.22).
• The company has a market capitalization of £734.93 million and operates in various financial services, including debt factoring, asset-based lending, and SME financing.

Close Brothers Group plc (LON:CBG - Get Free Report)'s stock price rose 20.5% during trading on Monday . The stock traded as high as GBX 533 ($7.17) and last traded at GBX 479.40 ($6.45). Approximately 52,121,996 shares were traded during mid-day trading, an increase of 2,650% from the average daily volume of 1,895,635 shares. The stock had previously closed at GBX 397.80 ($5.35).

Wall Street Analysts Forecast Growth

CBG has been the topic of several recent analyst reports. Canaccord Genuity Group restated a "buy" rating and issued a GBX 463 ($6.23) target price on shares of Close Brothers Group in a research note on Monday. Peel Hunt restated a "hold" rating and issued a GBX 327 ($4.40) target price on shares of Close Brothers Group in a research note on Friday, July 25th. Finally, Shore Capital restated a "hold" rating and issued a GBX 370 ($4.98) target price on shares of Close Brothers Group in a research note on Friday, July 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of GBX 468.33 ($6.30).

Close Brothers Group Stock Up 3.3%

The stock has a fifty day moving average of GBX 394.79 and a 200-day moving average of GBX 343.97. The firm has a market capitalization of £829.39 million, a P/E ratio of 8.29, a PEG 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.