Close Brothers Group plc (LON:CBG – Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 460.02 ($6.02) and traded as high as GBX 546.50 ($7.15). Close Brothers Group shares last traded at GBX 538.50 ($7.04), with a volume of 165,722 shares trading hands.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on CBG. Royal Bank of Canada upgraded Close Brothers Group to an “outperform” rating and upped their price target for the stock from GBX 375 ($4.90) to GBX 620 ($8.11) in a research note on Thursday, August 29th. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a report on Wednesday, May 22nd. Finally, 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 ($7.98) price objective for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 624 ($8.16).
Read Our Latest Research Report on Close Brothers Group
Close Brothers Group Trading Up 1.3 %
Insider Transactions at Close Brothers Group
In related news, insider Mike Morgan sold 7,920 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of GBX 506 ($6.62), for a total transaction of £40,075.20 ($52,406.43). Over the last quarter, insiders have purchased 90 shares of company stock worth $45,096. Insiders own 2.93% 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.
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