Close Brothers Group (LON:CBG) Trading Up 23.5% - Time to Buy?

Key Points

• Close Brothers Group plc's stock surged by 23.5%, reaching a high of GBX 533 ($7.08) during trading on Monday, significantly increasing trading volume by 411%.
• Equities research analysts have mixed sentiments on the stock, with three ratings for "hold" and three for "buy," resulting in an average rating of "Moderate Buy" with a target price of GBX 468.33 ($6.22).
• The company specializes in financial services for small businesses and individuals in the UK, including banking services, asset-based lending, and various financing options.

Close Brothers Group plc (LON:CBG - Get Free Report)'s stock price was up 23.5% during trading on Monday . The stock traded as high as GBX 533 ($7.08) and last traded at GBX 491.40 ($6.53). Approximately 8,181,824 shares traded hands during mid-day trading, an increase of 411% from the average daily volume of 1,600,735 shares. The stock had previously closed at GBX 397.80 ($5.28).

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CBG shares. Shore Capital reaffirmed a "hold" rating and issued a GBX 370 ($4.91) target price on shares of Close Brothers Group in a research note 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 research note on Monday. Finally, Peel Hunt restated a "hold" rating and set a GBX 327 ($4.34) target price on shares of Close Brothers Group in a report on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of GBX 468.33 ($6.22).

Close Brothers Group Trading Up 23.5%

The company has a 50-day moving average price of GBX 376.05 and a two-hundred day moving average price of GBX 335.20. The stock has a market capitalization 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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