Conduit (LON:CRE) Stock Passes Above Two Hundred 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 440.37 and traded as high as GBX 462.50. Conduit shares last traded at GBX 460, with a volume of 219,631 shares changing hands.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 427 price target on shares of Conduit in a report on Thursday, July 30th. Royal Bank Of Canada restated a “sector perform” rating and set a GBX 450 price objective on shares of Conduit in a report on Friday, July 31st. Finally, Berenberg Bank lowered their target price on Conduit from GBX 782 to GBX 765 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Conduit currently has an average rating of “Moderate Buy” and an average price target of GBX 545.50.

Conduit Stock Up 0.1%

The stock has a market capitalization of £644.19 million, a P/E ratio of 3.41 and a beta of 0.58. The business’s 50 day simple moving average is GBX 445.22 and its two-hundred day simple moving average is GBX 440.37.

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).