Conduit (LON:CRE) Given Buy Rating at Berenberg Bank

Conduit (LON:CRE)‘s stock had its “buy” rating reaffirmed by research analysts at Berenberg Bank in a research note issued to investors on Wednesday,London Stock Exchange reports. They currently have a GBX 782 price target on the stock. Berenberg Bank’s price target indicates a potential upside of 75.14% from the stock’s previous close.

Conduit Trading Up 0.8%

Shares of CRE stock opened at GBX 446.50 on Wednesday. The stock has a market cap of £662.52 million, a P/E ratio of 6.03 and a beta of 0.58. The company has a quick ratio of 1.19, a current ratio of 443.50 and a debt-to-equity ratio of 0.07. Conduit has a fifty-two week low of GBX 271 and a fifty-two week high of GBX 456.50. The business has a fifty day simple moving average of GBX 431.43 and a 200-day simple moving average of GBX 392.48.

Insider Transactions at Conduit

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