Drax Group (LON:DRX) Hits New 12-Month High – What’s Next?

Drax Group plc (LON:DRX) reached a new 52-week high on Tuesday . The company traded as high as GBX 839.50 and last traded at GBX 839.50, with a volume of 436845 shares trading hands. The stock had previously closed at GBX 835.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DRX shares. Citigroup raised Drax Group to a “buy” rating and lifted their price objective for the company from GBX 689 to GBX 850 in a report on Wednesday, December 3rd. Royal Bank Of Canada restated an “outperform” rating and set a GBX 950 price objective on shares of Drax Group in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of GBX 933.33.

Drax Group Price Performance

The business’s 50-day simple moving average is GBX 755.84 and its two-hundred day simple moving average is GBX 710.43. The stock has a market cap of £2.87 billion, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32.

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. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.