Conduit (LON:CRE) Shares Cross Below 200 Day Moving Average – What’s Next?

Conduit Holdings Limited (LON:CRE) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRE. Berenberg Bank reaffirmed a “buy” rating and set a GBX 782 price target on shares of Conduit in a report on Thursday, July 16th. Royal Bank Of Canada upped their price target on shares of Conduit from GBX 390 to GBX 450 and gave the company a “sector perform” rating in a report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 536.50.

Conduit Price Performance

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

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).