Conduit (LON:CRE) Shares Pass Below 200-Day Moving Average – Time to Sell?

Conduit Holdings Limited (LON:CRE) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 344.19 and traded as low as GBX 324.50. Conduit shares last traded at GBX 325, with a volume of 2,247,387 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on Conduit from GBX 300 to GBX 360 and gave the stock a “sector perform” rating in a research note on Tuesday, October 14th. Jefferies Financial Group decreased their price objective on Conduit from GBX 585 to GBX 374 and set a “buy” rating for the company in a report on Wednesday, November 12th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 700 target price on shares of Conduit in a research report on Wednesday, October 29th. Finally, Peel Hunt reiterated a “buy” rating and issued a GBX 540 target price on shares of Conduit in a report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 493.50.

Conduit Stock Performance

The firm has a market capitalization of £508.57 million, a P/E ratio of 40.63 and a beta of 0.52. The firm has a 50 day simple moving average of GBX 335.18 and a two-hundred day simple moving average of GBX 344.19.

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.