Drax Group plc (LON:DRX) has earned an average rating of “Buy” from the six research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is GBX 509 ($6.65).
Several equities research analysts have recently issued reports on DRX shares. JPMorgan Chase & Co. raised their target price on Drax Group from GBX 360 ($4.70) to GBX 500 ($6.53) and gave the company an “overweight” rating in a research report on Wednesday, June 2nd. Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 450 ($5.88) target price on shares of Drax Group in a research report on Monday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 650 ($8.49) target price on shares of Drax Group in a research report on Wednesday, August 11th.
Shares of Drax Group stock traded up GBX 2.60 ($0.03) during trading hours on Friday, hitting GBX 438.60 ($5.73). 1,500,299 shares of the company’s stock traded hands, compared to its average volume of 1,098,011. Drax Group has a 12-month low of GBX 248.49 ($3.25) and a 12-month high of GBX 459.60 ($6.00). The stock has a market capitalization of £1.75 billion and a price-to-earnings ratio of -22.36. The company has a fifty day simple moving average of GBX 417.73 and a 200-day simple moving average of GBX 418.49. The company has a debt-to-equity ratio of 113.43, a current ratio of 1.16 and a quick ratio of 0.51.
About Drax Group
Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. The company operates through three segments: Generation, Customers, and, Pellet Production. It produces low carbon and renewable electricity; and provides system support services to the electricity grid.
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