Conduit (LON:CRE) Shares Cross Below 200-Day Moving Average – Here’s Why

Conduit Holdings Limited (LON:CRE) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 427.04 and traded as low as GBX 425.50. Conduit shares last traded at GBX 430.50, with a volume of 288,391 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRE. Berenberg Bank reaffirmed a “buy” rating and set a GBX 782 target price on shares of Conduit in a research report on Thursday, July 16th. Royal Bank Of Canada increased their target price on shares of Conduit from GBX 390 to GBX 450 and gave the company a “sector perform” rating in a research note on Friday, May 15th. Three 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 price target of GBX 536.50.

Conduit Price Performance

The company has a market cap of £634.96 million, a price-to-earnings ratio of 5.82 and a beta of 0.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.19 and a current ratio of 696.25. The company’s 50 day moving average price is GBX 448.12 and its 200 day moving average price is GBX 427.04.

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).