Conduit’s (CRE) Buy Rating Reiterated at Peel Hunt

Conduit (LON:CRE)‘s stock had its “buy” rating reissued by equities research analysts at Peel Hunt in a research report issued to clients and investors on Thursday, Digital Look reports. They currently have a GBX 530 price target on the stock. Peel Hunt’s price objective suggests a potential upside of 21.42% from the company’s current price.

A number of other brokerages have also weighed in on CRE. 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. Berenberg Bank reissued a “buy” rating and issued a GBX 765 price target on shares of Conduit in a research report on Monday, September 7th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a GBX 450 price target on shares of Conduit in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 558.25.

Conduit Stock Up 0.8%

LON:CRE traded up GBX 3.50 on Thursday, hitting GBX 436.50. The stock had a trading volume of 49,084 shares, compared to its average volume of 930,312. Conduit has a 52 week low of GBX 320 and a 52 week high of GBX 485.50. The business’s fifty day moving average is GBX 452.79 and its 200 day moving average is GBX 446.11. The company has a market cap of £611.28 million, a PE ratio of 3.23 and a beta of 0.58.

Insider Buying and Selling

In other Conduit news, insider Neil David Eckert sold 43,958 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of GBX 473, for a total transaction of £207,921.34. Insiders own 1.92% of the company’s stock.

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).