Conduit (LON:CRE) Given “Buy” Rating at Peel Hunt

Conduit (LON:CRE)‘s stock had its “buy” rating reiterated by stock analysts at Peel Hunt in a report issued on Thursday, Digital Look reports. They currently have a GBX 530 price target on the stock. Peel Hunt’s target price suggests a potential upside of 26.34% from the stock’s previous close.

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

Conduit Price Performance

LON:CRE traded down GBX 39.49 during midday trading on Thursday, reaching GBX 419.50. 303,475 shares of the company traded hands, compared to its average volume of 937,433. Conduit has a twelve month low of GBX 320 and a twelve month high of GBX 485.50. The firm has a market capitalization of £587.48 million, a price-to-earnings ratio of 3.11 and a beta of 0.58. The company has a fifty day moving average price of GBX 453.22 and a 200 day moving average price of GBX 445.89.

Insider Transactions at Conduit

In other news, insider Neil David Eckert sold 43,958 shares of the business’s stock in a transaction 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).