Conduit (LON:CRE) Earns Buy Rating from Peel Hunt

Conduit (LON:CRE)‘s stock had its “buy” rating restated by Peel Hunt in a report issued on Thursday, Digital Look reports. They currently have a GBX 530 price objective on the stock. Peel Hunt’s price objective indicates a potential upside of 23.98% from the company’s previous close.

Several other analysts have also recently weighed in on CRE. Berenberg Bank reissued a “buy” rating and issued a GBX 765 price objective on shares of Conduit in a research note on Monday, September 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 488 target price on shares of Conduit in a research report on Wednesday, September 9th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 450 price target on shares of Conduit in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 558.25.

Conduit Stock Performance

Shares of LON CRE opened at GBX 427.50 on Thursday. Conduit has a 52-week low of GBX 320 and a 52-week high of GBX 485.50. The firm has a 50 day moving average price of GBX 453.22 and a two-hundred day moving average price of GBX 445.89. The stock has a market cap of £598.68 million, a P/E ratio of 3.17 and a beta of 0.58.

Insider Buying and Selling at Conduit

In other news, insider Neil David Eckert sold 43,958 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of GBX 473, for a total value of £207,921.34. 1.92% of the stock is owned by insiders.

About Conduit

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 stable.

Conduit Holdings Limited is the ultimate parent of Conduit Reinsurance Limited and is listed on the London Stock Exchange (ticker: CRE).