Close Brothers Group (LON:CBG) Stock Jumps 14.7% – Time to Buy?

Close Brothers Group plc (LON:CBG)’s stock price was up 14.7% during mid-day trading on Tuesday. The stock traded as high as GBX 445.80 and last traded at GBX 442.59. 2,477,801 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 2,419,664 shares. The stock had previously closed at GBX 386.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lowered shares of Close Brothers Group to a “sector perform” rating and reduced their price target for the company from GBX 625 to GBX 470 in a research report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Close Brothers Group presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 481.25.

Close Brothers Group Trading Up 0.6%

The company’s 50 day moving average price is GBX 415.98 and its two-hundred day moving average price is GBX 425.16. The firm has a market cap of £631.22 million, a PE ratio of -11.86, a PEG ratio of 1.87 and a beta of 1.24.

Close Brothers Group (LON:CBG) last posted its quarterly earnings data on Tuesday, September 29th. The company reported GBX 47.50 EPS for the quarter. Close Brothers Group had a negative return on equity of 4.07% and a negative net margin of 7.56%. Equities research analysts expect that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Close Brothers Group news, insider Fiona McCarthy sold 1,626 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of GBX 426, for a total transaction of £6,926.76. Company insiders own 2.21% 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.