Close Brothers Group (LON:CBG) Trading 23.5% Higher - Still a Buy?

Key Points

• Close Brothers Group plc shares increased by 23.5% in one day, reaching a high of GBX 533 ($7.08) and closing at GBX 491.40 ($6.53).
• Analysts have varying opinions on the stock, with three holding a "buy" rating and three issuing a "hold" rating, resulting in an average rating of "Moderate Buy" with a consensus target price of GBX 468.33 ($6.22).
• The company's market capitalization stands at £764.53 million, with a price-to-earnings ratio of 7.65 and a beta of 0.82, indicating relative stability compared to the market.

Close Brothers Group plc (LON:CBG - Get Free Report) was up 23.5% during mid-day trading on Monday . The company traded as high as GBX 533 ($7.12) and last traded at GBX 491.40 ($6.56). Approximately 8,181,824 shares changed hands during trading, an increase of 411% from the average daily volume of 1,600,735 shares. The stock had previously closed at GBX 397.80 ($5.31).

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Shore Capital reissued a "hold" rating and issued a GBX 370 ($4.94) price target on shares of Close Brothers Group in a report on Friday, July 25th. Peel Hunt reiterated a "hold" rating and set a GBX 327 ($4.37) target price on shares of Close Brothers Group in a research note on Friday, July 25th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a GBX 463 ($6.18) price target on shares of Close Brothers Group in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 468.33 ($6.26).

Close Brothers Group Stock Performance

The firm has a market capitalization of £782.69 million, a P/E ratio of 7.83, a P/E/G ratio of 1.87 and a beta of 0.82. The stock has a fifty day moving average price of GBX 386.35 and a two-hundred day moving average price of GBX 340.24.

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.