Close Brothers Group (LON:CBG) Shares Pass Above 200-Day Moving Average – Here’s Why

Close Brothers Group plc (LON:CBG)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 380.16 ($5.14) and traded as high as GBX 495 ($6.69). Close Brothers Group shares last traded at GBX 479.60 ($6.48), with a volume of 431,842 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CBG. Shore Capital reiterated a “hold” rating and set a GBX 370 price objective on shares of Close Brothers Group in a research report on Friday, July 25th. Royal Bank Of Canada lowered Close Brothers Group to a “sector perform” rating and set a GBX 525 price target for the company. in a report on Monday, August 18th. Peel Hunt reaffirmed a “hold” rating and issued a GBX 327 price objective on shares of Close Brothers Group in a research note on Friday, July 25th. UBS Group reaffirmed a “neutral” rating and issued a GBX 535 price objective on shares of Close Brothers Group in a research note on Monday, September 15th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a GBX 463 price target on shares of Close Brothers Group in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of GBX 464.29.

Close Brothers Group Price Performance

The firm has a fifty day moving average price of GBX 471.19 and a two-hundred day moving average price of GBX 380.16. The stock has a market capitalization of £727.32 million, a PE ratio of -704.37, a P/E/G ratio of 1.87 and a beta of 0.82.

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.