Drax Group (LON:DRX) Hits New 12-Month High After Analyst Upgrade

Drax Group plc (LON:DRX) hit a new 52-week high during mid-day trading on Wednesday after Citigroup upgraded the stock to a buy rating. Citigroup now has a GBX 850 price target on the stock, up from their previous price target of GBX 689. Drax Group traded as high as GBX 770.50 and last traded at GBX 765, with a volume of 5380218 shares. The stock had previously closed at GBX 728.

Separately, Royal Bank Of Canada restated an “outperform” rating and issued a GBX 950 target price on shares of Drax Group in a research note on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Drax Group currently has a consensus rating of “Buy” and a consensus price target of GBX 933.33.

Drax Group Price Performance

The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32. The business’s fifty day moving average price is GBX 722.08 and its 200-day moving average price is GBX 691.12. The stock has a market capitalization of £2.66 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 0.10 and a beta of 1.22.

Drax Group Company Profile

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.