Drax Group (LON:DRX) Sets New 52-Week High – Still a Buy?

Drax Group plc (LON:DRX)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 833 and last traded at GBX 830, with a volume of 3035188 shares traded. The stock had previously closed at GBX 826.

Wall Street Analyst Weigh In

DRX has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 950 price target on shares of Drax Group in a research report on Wednesday, November 5th. Citigroup upgraded Drax Group to a “buy” rating and boosted their target price for the stock from GBX 689 to GBX 850 in a report on Wednesday, December 3rd. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 933.33.

Drax Group Price Performance

The company has a market capitalization of £2.84 billion, a P/E ratio of 7.73, a PEG ratio of 0.10 and a beta of 1.22. The stock’s fifty day simple moving average is GBX 748.55 and its 200-day simple moving average is GBX 706.52. The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32.

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. 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.