Shore Capital Reaffirms “Buy” Rating for Close Brothers Group (LON:CBG)

Shore Capital restated their buy rating on shares of Close Brothers Group (LON:CBG) in a report released on Wednesday morning, Marketbeat.com reports.

Several other brokerages also recently commented on CBG. Deutsche Bank Aktiengesellschaft started coverage on shares of Close Brothers Group in a research note on Friday, July 5th. They issued a “buy” rating and a GBX 610 ($7.97) target price on the stock. Royal Bank of Canada raised shares of Close Brothers Group to an “outperform” rating and lifted their target price for the stock from GBX 375 ($4.90) to GBX 620 ($8.10) in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Close Brothers Group currently has an average rating of “Buy” and an average price target of GBX 556.60 ($7.27).

Close Brothers Group Stock Performance

Shares of CBG opened at GBX 383.20 ($5.00) on Wednesday. The firm has a market cap of £576.68 million, a price-to-earnings ratio of 638.67, a PEG ratio of 1.87 and a beta of 0.82. Close Brothers Group has a fifty-two week low of GBX 278 ($3.63) and a fifty-two week high of GBX 844.10 ($11.02). The firm has a 50 day moving average price of GBX 462 and a 200-day moving average price of GBX 467.41.

Insider Buying and Selling at Close Brothers Group

In related news, insider Michael N. Biggs acquired 3,500 shares of Close Brothers Group stock in a transaction on Tuesday, September 24th. The shares were acquired at an average cost of GBX 416 ($5.43) per share, with a total value of £14,560 ($19,012.80). In the last ninety days, insiders have purchased 3,600 shares of company stock valued at $1,501,136. 2.91% 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.