Conduit (LON:CRE) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Conduit Holdings Limited (LON:CRE) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 414.30 and traded as high as GBX 450.50. Conduit shares last traded at GBX 449.50, with a volume of 275,570 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on CRE. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 782 price target on shares of Conduit in a research note on Wednesday, May 13th. Royal Bank Of Canada raised their price objective on Conduit from GBX 390 to GBX 450 and gave the company a “sector perform” rating in a research report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 536.50.

Conduit Trading Up 1.0%

The stock’s fifty day simple moving average is GBX 447.03 and its two-hundred day simple moving average is GBX 414.30. The firm has a market cap of £665.79 million, a PE ratio of 6.07 and a beta of 0.59. The company has a quick ratio of 1.19, a current ratio of 696.25 and a debt-to-equity ratio of 0.07.

Insider Activity at Conduit

In related news, insider Neil David Eckert sold 4,850 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of GBX 407, for a total value of £19,739.50. 1.81% of the stock is currently owned by corporate 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 stable.

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