Conduit (LON:CRE) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Conduit Holdings Limited (LON:CRE)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 423.66 and traded as low as GBX 422.50. Conduit shares last traded at GBX 427.89, with a volume of 150,487 shares.

Analysts Set New Price Targets

CRE has been the subject of several research analyst reports. Royal Bank Of Canada increased their price objective on Conduit from GBX 390 to GBX 450 and gave the stock a “sector perform” rating in a report on Friday, May 15th. Berenberg Bank restated a “buy” rating and issued a GBX 782 price objective on shares of Conduit in a report on Friday, July 3rd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 536.50.

Conduit Stock Up 0.2%

The firm has a market capitalization of £631.11 million, a P/E ratio of 5.78 and a beta of 0.59. The company has a fifty day simple moving average of GBX 450.31 and a 200 day simple moving average of GBX 423.66. The company has a quick ratio of 1.19, a current ratio of 696.25 and a debt-to-equity ratio of 0.07.

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).