Conduit (LON:CRE) Earns Buy Rating from Jefferies Financial Group

Conduit (LON:CRE)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Financial Group in a research report issued to clients and investors on Thursday, Digital Look reports. They presently have a GBX 488 price objective on the stock. Jefferies Financial Group‘s target price would indicate a potential upside of 13.23% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on CRE. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 450 target price on shares of Conduit in a research report on Friday, July 31st. Peel Hunt reaffirmed a “buy” rating and set a GBX 530 price target on shares of Conduit in a research report on Thursday, October 8th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 765 price objective on shares of Conduit in a research note on Friday, November 6th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 558.25.

Conduit Trading Up 0.2%

CRE stock traded up GBX 1 during trading hours on Thursday, hitting GBX 431. 271,473 shares of the stock were exchanged, compared to its average volume of 958,377. The firm has a market capitalization of £603.58 million, a P/E ratio of 3.19 and a beta of 0.57. The company has a 50-day simple moving average of GBX 451.72 and a two-hundred day simple moving average of GBX 439.58. Conduit has a 12 month low of GBX 320 and a 12 month high of GBX 485.50.

Insider Transactions at Conduit

In other Conduit news, insider Neil David Eckert sold 43,958 shares of the firm’s stock in a transaction 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).