Close Brothers Group (LON:CBG) Stock Price Up 22% – Time to Buy?

Shares of Close Brothers Group plc (LON:CBG) shot up 22% during trading on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 298.70 ($3.69). 40,175,391 shares were traded during trading, an increase of 544% from the average session volume of 6,242,837 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 610 ($7.53) price target on shares of Close Brothers Group in a report on Friday, November 22nd. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 556.60 ($6.88).

Close Brothers Group Stock Down 2.9 %

The firm has a market capitalization of £449.66 million, a price-to-earnings ratio of 498.00, a P/E/G ratio of 1.87 and a beta of 0.82. The company’s 50 day moving average price is GBX 227.33 and its 200 day moving average price is GBX 362.32.

Insiders Place Their Bets

In related news, insider Mike Morgan sold 10,885 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.98), for a total value of £26,232.85 ($32,402.24). 2.91% of the stock is currently owned by insiders.

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.