Conduit (LON:CRE) Given “Buy” Rating at Peel Hunt

Conduit (LON:CRE)‘s stock had its “buy” rating reissued by analysts at Peel Hunt in a report issued on Thursday, Digital Look reports. They currently have a GBX 530 target price on the stock. Peel Hunt’s price target indicates a potential upside of 22.40% from the company’s current price.

Several other equities research analysts also recently commented on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 450 price objective on shares of Conduit in a report on Friday, July 31st. Berenberg Bank restated a “buy” rating and set a GBX 765 target price on shares of Conduit in a research note on Monday, September 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 488 price target on shares of Conduit in a report on Wednesday, September 9th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 558.25.

Conduit Stock Performance

Shares of CRE stock traded up GBX 13 during mid-day trading on Thursday, hitting GBX 433. The company’s stock had a trading volume of 261,687 shares, compared to its average volume of 934,808. Conduit has a 52-week low of GBX 320 and a 52-week high of GBX 485.50. The business has a 50-day moving average price of GBX 452.79 and a 200 day moving average price of GBX 445.85. The stock has a market cap of £606.38 million, a price-to-earnings ratio of 3.21 and a beta of 0.58.

Insider Activity

In other 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 value of £207,921.34. 1.92% of the stock is currently 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).