Citigroup Reaffirms “Sell” Rating for Drax Group (LON:DRX)

Drax Group (LON:DRX)‘s stock had its “sell” rating reaffirmed by stock analysts at Citigroup in a research note issued on Tuesday, MarketBeat reports. They presently have a GBX 529 ($6.58) price target on the stock. Citigroup’s price target indicates a potential downside of 17.54% from the company’s current price.

Separately, JPMorgan Chase & Co. raised their price target on shares of Drax Group from GBX 850 ($10.58) to GBX 900 ($11.20) and gave the company an “overweight” rating in a report on Tuesday.

Drax Group Price Performance

DRX opened at GBX 641.50 ($7.98) on Tuesday. Drax Group has a 1 year low of GBX 407.40 ($5.07) and a 1 year high of GBX 692 ($8.61). The company’s 50 day simple moving average is GBX 633.18 and its 200 day simple moving average is GBX 640.47. The company has a debt-to-equity ratio of 63.77, a quick ratio of 0.32 and a current ratio of 1.26. The stock has a market capitalization of £2.44 billion, a PE ratio of 386.45, a P/E/G ratio of 0.10 and a beta of 1.22.

About Drax Group

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.