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

Conduit (LON:CRE)‘s stock had its “buy” rating reiterated by stock analysts at Peel Hunt in a research note issued to investors on Thursday, Digital Look reports. They currently have a GBX 530 price target on the stock. Peel Hunt’s price objective points to a potential upside of 22.40% from the company’s previous close.

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

Conduit Price Performance

Shares of CRE traded up GBX 13 during trading hours on Thursday, hitting GBX 433. 261,687 shares of the stock were exchanged, compared to its average volume of 934,808. The firm has a market capitalization of £606.38 million, a P/E ratio of 3.21 and a beta of 0.58. Conduit has a fifty-two week low of GBX 320 and a fifty-two week high of GBX 485.50. The business has a 50-day moving average of GBX 452.79 and a 200-day moving average of GBX 446.11.

Insider Transactions at Conduit

In related news, insider Neil David Eckert sold 43,958 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of GBX 473, for a total value of £207,921.34. Corporate insiders own 1.92% 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).