Conduit (LON:CRE) Reaches New 52-Week High – Still a Buy?

Conduit Holdings Limited (LON:CRE)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 433.50 and last traded at GBX 380.50, with a volume of 2619641 shares changing hands. The stock had previously closed at GBX 405.

Analyst Upgrades and Downgrades

CRE has been the topic of a number of research reports. Berenberg Bank restated a “buy” rating and set a GBX 700 target price on shares of Conduit in a research report on Wednesday, October 29th. Peel Hunt reissued a “buy” rating and set a GBX 540 price target on shares of Conduit in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group reduced their price objective on shares of Conduit from GBX 585 to GBX 374 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 493.50.

Conduit Trading Down 6.0%

The firm has a market cap of £584.14 million, a P/E ratio of 47.56 and a beta of 0.52. The firm’s 50 day moving average is GBX 384.40 and its two-hundred day moving average is GBX 344.40.

Insider Activity

In other news, insider Nicholas Shott acquired 19,708 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was acquired at an average price of GBX 344 per share, for a total transaction of £67,795.52. 1.63% of the stock is owned by company insiders.

Conduit Company Profile

Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited. The outlook assigned to these ratings is positive.

Conduit Holdings Limited is the ultimate parent of Conduit Re and is listed on the London Stock Exchange