Close Brothers Group (LON:CBG) Stock Price Up 5.9% – Time to Buy?

Close Brothers Group plc (LON:CBG)’s share price rose 5.9% during mid-day trading on Thursday . The company traded as high as GBX 293 ($3.80) and last traded at GBX 292.80 ($3.80). Approximately 442,840 shares changed hands during trading, a decline of 81% from the average daily volume of 2,359,436 shares. The stock had previously closed at GBX 276.40 ($3.59).

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft reduced their target price on Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating on the stock in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a GBX 430 ($5.58) price target on shares of Close Brothers Group in a report on Thursday, March 27th.

Close Brothers Group Stock Up 7.8 %

The business’s fifty day moving average is GBX 317.69 and its two-hundred day moving average is GBX 295.72. The firm has a market cap of £448.76 million, a price-to-earnings ratio of 4.49, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last released its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) EPS for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. Research analysts forecast that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Insider Buying and Selling at Close Brothers Group

In related news, insider Michael N. Biggs purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were bought at an average price of GBX 288 ($3.74) per share, with a total value of £14,400 ($18,698.87). Corporate insiders own 2.91% of the company’s stock.

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.