Conduit (LON:CRE) Price Target Raised to GBX 450 at Royal Bank Of Canada

Conduit (LON:CRE) had its price target boosted by Royal Bank Of Canada from GBX 390 to GBX 450 in a research report released on Friday, MarketBeat.com reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 782 price target on shares of Conduit in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 536.50.

Conduit Price Performance

Shares of LON CRE opened at GBX 464 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 443.50 and a quick ratio of 1.19. Conduit has a 1-year low of GBX 271 and a 1-year high of GBX 472. The company has a market capitalization of £688.49 million, a price-to-earnings ratio of 6.27 and a beta of 0.58. The business has a 50-day moving average of GBX 433.34 and a 200-day moving average of GBX 394.43.

Insider Activity

In other news, insider Ken Randall sold 55,000 shares of Conduit stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of GBX 427, for a total transaction of £234,850. Also, insider Neil David Eckert sold 4,850 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of GBX 407, for a total value of £19,739.50. 1.64% of the stock is owned by company 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).