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

Close Brothers Group (LON:CBG) was upgraded by equities researchers at Royal Bank Of Canada to an “outperform” rating in a research note issued to investors on Friday,London Stock Exchange reports. The brokerage presently has a GBX 625 target price on the stock, up from their prior target price of GBX 475. Royal Bank Of Canada’s price target would suggest a potential upside of 17.78% from the stock’s current price.

A number of other research analysts have also recently weighed in on CBG. Shore Capital reaffirmed a “hold” rating and set a GBX 510 price objective on shares of Close Brothers Group in a research report on Thursday, November 20th. Peel Hunt reaffirmed an “add” rating and set a GBX 300 price target on shares of Close Brothers Group in a report on Tuesday, November 25th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 400 price target on shares of Close Brothers Group in a research report on Thursday, October 16th. Keefe, Bruyette & Woods decreased their price objective on shares of Close Brothers Group from GBX 640 to GBX 580 and set an “outperform” rating on the stock in a research report on Friday, October 10th. Finally, Panmure Gordon reaffirmed a “hold” rating and issued a GBX 500 target price on shares of Close Brothers Group in a report on Thursday, October 9th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 506.25.

Close Brothers Group Stock Up 4.2%

CBG traded up GBX 21.15 during trading on Friday, hitting GBX 530.65. The company’s stock had a trading volume of 3,055,802 shares, compared to its average volume of 601,888. The business’s 50 day simple moving average is GBX 470.27 and its 200-day simple moving average is GBX 461.38. The firm has a market cap of £798.79 million, a PE ratio of -7.93, a P/E/G ratio of 1.87 and a beta of 0.82. Close Brothers Group has a one year low of GBX 224.20 and a one year high of GBX 563.50.

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

Insider Buying and Selling

In other news, insider Mike Morgan purchased 2,841 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was purchased at an average cost of GBX 507 per share, with a total value of £14,403.87. 2.19% of the stock is owned by insiders.

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.