Berenberg Bank reiterated their buy rating on shares of Conduit (LON:CRE – Free Report) in a research report released on Friday,Digital Look reports. Berenberg Bank currently has a GBX 765 target price on the stock.
A number of other brokerages have also recently weighed in on CRE. Jefferies Financial Group restated a “buy” rating and issued a GBX 488 price target on shares of Conduit in a research report on Wednesday, September 9th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 450 price objective on shares of Conduit in a research report on Friday, July 31st. Finally, Peel Hunt reiterated a “buy” rating and issued a GBX 530 price objective on shares of Conduit in a research report on Thursday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Conduit has an average rating of “Moderate Buy” and an average price target of GBX 558.25.
Get Our Latest Stock Analysis on CRE
Conduit Stock Performance
CRE stock traded down GBX 9 during midday trading on Friday, hitting GBX 451. 234,935 shares of the stock were exchanged, compared to its average volume of 967,201. The stock’s 50-day moving average price is GBX 452.62 and its 200-day moving average price is GBX 438.71. The stock has a market cap of £631.59 million, a price-to-earnings ratio of 3.34 and a beta of 0.57. Conduit has a fifty-two week low of GBX 320 and a fifty-two week high of GBX 485.50.
Insider Activity
In related news, insider Neil David Eckert sold 43,958 shares of Conduit stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of GBX 473, for a total transaction of £207,921.34. 1.92% of the stock is owned by corporate insiders.
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).
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