Royal Bank Of Canada Boosts Conduit (LON:CRE) Price Target to GBX 450

Conduit (LON:CRE) had its price target raised by analysts at Royal Bank Of Canada from GBX 390 to GBX 450 in a note issued to investors on Friday,London Stock Exchange reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price points to a potential downside of 3.43% from the stock’s previous close.

Separately, Berenberg Bank restated a “buy” rating and set a GBX 782 price objective on shares of Conduit in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Conduit currently has an average rating of “Moderate Buy” and a consensus price target of GBX 536.50.

Conduit Price Performance

LON:CRE traded up GBX 3 during mid-day trading on Friday, reaching GBX 466. 443,514 shares of the stock were exchanged, compared to its average volume of 1,098,202. The business has a fifty day moving average price of GBX 432.62 and a 200 day moving average price of GBX 393.94. The firm has a market capitalization of £691.46 million, a PE ratio of 6.30 and a beta of 0.58. Conduit has a 1-year low of GBX 271 and a 1-year high of GBX 472. The company has a current ratio of 443.50, a quick ratio of 1.19 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling at Conduit

In other news, insider Ken Randall sold 55,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of GBX 427, for a total transaction of £234,850. Also, insider Neil David Eckert sold 4,850 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of GBX 407, for a total value of £19,739.50. 1.64% of the stock is currently 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).