Close Brothers Group (LON:CBG) Raised to Outperform at Royal Bank Of Canada

Close Brothers Group (LON:CBG) was upgraded by equities research analysts at Royal Bank Of Canada to an “outperform” rating in a report released on Friday, MarketBeat.com reports. The firm currently has a GBX 625 price objective on the stock, up from their prior price objective of GBX 475. Royal Bank Of Canada’s target price would indicate a potential upside of 16.80% from the company’s current price.

CBG has been the subject of several other research reports. Shore Capital restated a “hold” rating and set a GBX 510 price target on shares of Close Brothers Group in a report on Thursday, November 20th. Panmure Gordon reissued a “hold” rating and set a GBX 500 target price on shares of Close Brothers Group in a research note on Thursday, October 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 400 price target on shares of Close Brothers Group in a research report on Thursday, October 16th. Peel Hunt reissued an “add” rating and issued a GBX 300 price objective on shares of Close Brothers Group in a research report on Tuesday, November 25th. Finally, Keefe, Bruyette & Woods dropped their price objective on Close Brothers Group from GBX 640 to GBX 580 and set an “outperform” rating on the stock in a research note on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Close Brothers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 506.25.

Close Brothers Group Stock Performance

Shares of CBG stock opened at GBX 535.09 on Friday. Close Brothers Group has a fifty-two week low of GBX 224.20 and a fifty-two week high of GBX 563.50. The stock’s fifty day moving average price is GBX 472.44 and its two-hundred day moving average price is GBX 463.13. The company has a market cap of £805.47 million, a PE ratio of -8.00, a P/E/G ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last released its quarterly earnings data on Thursday, December 11th. The company reported GBX 59.30 earnings per share (EPS) for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. On average, equities analysts predict that Close Brothers Group will post 66.0070671 EPS for the current fiscal year.

Insider Buying and Selling at Close Brothers Group

In other Close Brothers Group news, insider Mike Morgan acquired 2,841 shares of Close Brothers Group stock in a transaction on Monday, January 12th. The stock was purchased at an average price of GBX 507 per share, for a total transaction of £14,403.87. 2.19% of the stock is 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.