Close Brothers Group plc (CBG) Rating Increased to Buy at Peel Hunt
Close Brothers Group plc (LON:CBG) was upgraded by Peel Hunt to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a GBX 1,600 ($21.04) price target on the stock. Peel Hunt’s price target would indicate a potential upside of 14.70% from the company’s previous close.
CBG has been the subject of several other research reports. Shore Capital restated a “hold” rating on shares of Close Brothers Group plc in a research note on Thursday. J P Morgan Chase & Co restated an “overweight” rating and set a GBX 1,800 ($23.67) target price on shares of Close Brothers Group plc in a research note on Tuesday, October 3rd. Numis Securities Ltd restated a “hold” rating and set a GBX 1,575 ($20.72) target price on shares of Close Brothers Group plc in a research note on Tuesday, September 26th. Liberum Capital restated a “hold” rating and set a GBX 1,535 ($20.19) target price on shares of Close Brothers Group plc in a research note on Tuesday, September 26th. Finally, Royal Bank Of Canada upgraded Close Brothers Group plc to an “outperform” rating and set a GBX 1,600 ($21.04) target price for the company in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of GBX 1,551.33 ($20.40).
Close Brothers Group plc (CBG) traded up GBX 9 ($0.12) during mid-day trading on Thursday, reaching GBX 1,395 ($18.35). The company had a trading volume of 575,659 shares, compared to its average volume of 382,918. Close Brothers Group plc has a 12-month low of GBX 1,315 ($17.30) and a 12-month high of GBX 1,715 ($22.56).
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In other news, insider Rebekah Etherington sold 779 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of GBX 1,155 ($15.19), for a total value of £8,997.45 ($11,834.08). Also, insider Jonathan Howell sold 17,363 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of GBX 1,468 ($19.31), for a total value of £254,888.84 ($335,247.72). In the last quarter, insiders acquired 31 shares of company stock valued at $45,225 and sold 37,619 shares valued at $55,097,727.
About Close Brothers Group plc
Close Brothers Group plc is a merchant banking company. The Company provides lending, deposit taking, wealth management services and securities trading. The Company operates through three segments: Banking, Securities and Asset Management. The Banking segment provides lending to small businesses and individuals, with an emphasis on specialist finance.
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