Royal Bank of Canada Increases Conduit (LON:CRE) Price Target to GBX 400

Conduit (LON:CREGet Rating) had its target price raised by equities researchers at Royal Bank of Canada from GBX 375 ($4.32) to GBX 400 ($4.61) in a research note issued on Friday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 7.38% from the stock’s previous close.

Separately, Berenberg Bank upped their price target on shares of Conduit from GBX 540 ($6.22) to GBX 570 ($6.56) and gave the company a “buy” rating in a report on Thursday.

Conduit Price Performance

Shares of CRE opened at GBX 372.50 ($4.29) on Friday. Conduit has a 1-year low of GBX 299.50 ($3.45) and a 1-year high of GBX 471.10 ($5.42). The company has a debt-to-equity ratio of 0.29, a current ratio of 1.48 and a quick ratio of 1.19. The firm has a market capitalization of £612.70 million and a PE ratio of -18.00. The company’s fifty day moving average price is GBX 340.96 and its 200-day moving average price is GBX 339.88.

Insider Buying and Selling at Conduit

In other Conduit news, insider Trevor Carvey purchased 25,000 shares of the stock in a transaction on Friday, August 26th. The shares were bought at an average cost of GBX 315 ($3.63) per share, with a total value of £78,750 ($90,673.58). In other news, insider Elaine Whelan acquired 32,198 shares of the firm’s stock in a transaction on Monday, September 5th. The stock was acquired at an average price of GBX 309 ($3.56) per share, for a total transaction of £99,491.82 ($114,555.92). Also, insider Trevor Carvey acquired 25,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was purchased at an average price of GBX 315 ($3.63) per share, with a total value of £78,750 ($90,673.58).

Conduit Company Profile

(Get Rating)

Conduit Holdings Limited, together with its subsidiaries, engages in the reinsurance business in Bermuda and internationally. It underwrites property, casualty, and specialty reinsurance products. The company was incorporated in 2020 and is based in Hamilton, Bermuda.

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