Conduit (LON:CRE) Earns “Buy” Rating from Peel Hunt

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

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

Conduit Stock Performance

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

Insider Activity at Conduit

In other Conduit news, insider Neil David Eckert sold 43,958 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of GBX 473, for a total transaction of £207,921.34. Insiders own 1.92% of the company’s stock.

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).