Close Brothers Group (LON:CBG) Reaches New 52-Week Low – What’s Next?

Close Brothers Group plc (LON:CBG) hit a new 52-week low on Monday . The company traded as low as GBX 202.80 ($2.61) and last traded at GBX 207.20 ($2.67), with a volume of 1379776 shares trading hands. The stock had previously closed at GBX 205.46 ($2.64).

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CBG shares. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a report on Friday, October 25th. Royal Bank of Canada upgraded Close Brothers Group to an “outperform” rating and upped their price target for the stock from GBX 375 ($4.83) to GBX 620 ($7.98) in a report on Thursday, August 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Close Brothers Group has a consensus rating of “Buy” and an average target price of GBX 556.60 ($7.16).

Close Brothers Group Price Performance

The firm has a 50-day simple moving average of GBX 373.76 and a 200 day simple moving average of GBX 443.21. The company has a market capitalization of £278.41 million, a PE ratio of 308.33, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Insider Buying and Selling at Close Brothers Group

In related news, insider Michael N. Biggs bought 3,500 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was bought at an average cost of GBX 416 ($5.35) per share, for a total transaction of £14,560 ($18,736.33). Insiders have purchased 3,567 shares of company stock valued at $1,485,824 over the last three months. 2.91% of the stock is owned by company 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.