Close Brothers Group (LON:CBG) Hits New 12-Month Low – Should You Sell?

Close Brothers Group plc (LON:CBG) shares reached a new 52-week low on Tuesday . The stock traded as low as GBX 218.80 ($2.85) and last traded at GBX 220.20 ($2.87), with a volume of 900891 shares traded. The stock had previously closed at GBX 225.80 ($2.94).

Analysts Set New Price Targets

A number of equities analysts have commented on CBG shares. Royal Bank of Canada upgraded Close Brothers Group to an “outperform” rating and lifted their target price for the company from GBX 375 ($4.88) to GBX 620 ($8.07) in a research note on Thursday, August 29th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research report on Friday, October 25th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of GBX 556.60 ($7.25).

Close Brothers Group Trading Down 2.5 %

The business has a 50-day moving average price of GBX 418.75 and a 200 day moving average price of GBX 455.60. The company has a market cap of £331.38 million, a price-to-earnings ratio of 376.00, a P/E/G ratio of 1.87 and a beta of 0.82.

Insider Buying and Selling

In other news, insider Michael N. Biggs bought 3,500 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were bought at an average cost of GBX 416 ($5.42) per share, with a total value of £14,560 ($18,953.40). In the last 90 days, insiders bought 3,567 shares of company stock valued at $1,485,824. Company 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.