Conduit (LON:CRE) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Conduit Holdings Limited (LON:CRE) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of GBX 452.42 and traded as high as GBX 457. Conduit shares last traded at GBX 457, with a volume of 2,149,528 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Berenberg Bank reiterated a “buy” rating and set a GBX 765 target price on shares of Conduit in a report on Friday, October 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a GBX 450 price objective on shares of Conduit in a research report on Friday, July 31st. Peel Hunt reiterated a “buy” rating and set a GBX 530 price objective on shares of Conduit in a report on Thursday, October 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 488 price objective 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 issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 558.25.

Conduit Stock Up 0.4%

The company’s fifty day moving average is GBX 452.42 and its 200 day moving average is GBX 438. The firm has a market cap of £642.79 million, a price-to-earnings ratio of 3.40 and a beta of 0.58.

Insider Buying and Selling

In other news, insider Neil David Eckert sold 43,958 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of GBX 473, for a total transaction of £207,921.34. 1.92% of the stock is 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).