Close Brothers Group (LON:CBG) Upgraded at UBS Group

Key Points

• UBS upgraded Close Brothers to a "buy" and set a GBX 555 price target, implying roughly a 44% upside from the stock's prior close.
• Analysts' consensus is a "Moderate Buy" with an average target of GBX 505, while the stock trades near GBX 384, well below its 50- and 200-day averages (~GBX 466).
• Insider buying has occurred—Mike Morgan bought 2,841 shares at GBX 507 and insiders own about 2.19%—despite recent negative profitability metrics (negative ROE and net margin).

Close Brothers Group (LON:CBG - Get Free Report) was upgraded by UBS Group to a "buy" rating in a research report issued to clients and investors on Friday,London Stock Exchange reports. The firm currently has a GBX 555 price objective on the stock. UBS Group's price target would indicate a potential upside of 44.42% from the stock's previous close.

A number of other equities research analysts also recently weighed in on CBG. Deutsche Bank Aktiengesellschaft raised their price target on shares of Close Brothers Group from GBX 550 to GBX 570 and gave the company a "buy" rating in a research note on Friday, January 23rd. Shore Capital Group upgraded shares of Close Brothers Group to a "buy" rating in a research report on Friday, March 20th. Finally, Royal Bank Of Canada raised shares of Close Brothers Group to an "outperform" rating and increased their price objective for the company from GBX 475 to GBX 625 in a research note on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of GBX 505.

Close Brothers Group Stock Down 2.7%

Shares of CBG stock opened at GBX 384.30 on Friday. The business has a fifty day simple moving average of GBX 466.06 and a 200 day simple moving average of GBX 466.99. The company has a market cap of £578.54 million, a P/E ratio of -5.74, a P/E/G ratio of 1.87 and a beta of 1.18. Close Brothers Group has a twelve month low of GBX 246.80 and a twelve month high of GBX 563.50.

Close Brothers Group (LON:CBG - Get Free Report) last released its earnings results on Tuesday, March 17th. The company reported GBX 27.10 earnings per share (EPS) for the quarter. Close Brothers Group had a negative return on equity of 2.03% and a negative net margin of 4.66%. As a group, equities research analysts anticipate that Close Brothers Group will post 66.0070671 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mike Morgan purchased 2,841 shares of the business's stock in a transaction dated Monday, January 12th. The shares were purchased at an average cost of GBX 507 per share, with a total value of £14,403.87. Insiders bought 2,902 shares of company stock valued at $1,469,952 in the last ninety days. 2.19% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.