Drax Group (LON:DRX) Reaches New 52-Week High – Should You Buy?

Drax Group plc (LON:DRX) hit a new 52-week high during trading on Monday . The company traded as high as GBX 910 and last traded at GBX 893.50, with a volume of 1185240 shares trading hands. The stock had previously closed at GBX 898.

Analysts Set New Price Targets

A number of brokerages have issued reports on DRX. Citigroup upgraded shares of Drax Group to a “buy” rating and lifted their target price for the stock from GBX 689 to GBX 850 in a research report on Wednesday, December 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 950 price objective on shares of Drax Group in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group upped their target price on Drax Group from GBX 750 to GBX 1,120 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Drax Group presently has an average rating of “Buy” and a consensus price target of GBX 980.

Drax Group Trading Down 0.5%

The business’s fifty day moving average price is GBX 813.11 and its 200 day moving average price is GBX 737.16. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The firm has a market capitalization of £3.04 billion, a PE ratio of 8.30, a P/E/G 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. 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.