Drax Group (LON:DRX) Earns Buy Rating from Jefferies Financial Group

Drax Group (LON:DRX)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Financial Group in a report issued on Tuesday,London Stock Exchange reports. They currently have a GBX 1,120 price target on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 41.33% from the stock’s previous close.

DRX has been the topic of a number of other research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 1,000 price target on shares of Drax Group in a report on Wednesday, May 6th. Citigroup lifted their price target on Drax Group from GBX 850 to GBX 923 and gave the company a “buy” rating in a report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 1,010.75.

Drax Group Stock Performance

Shares of DRX stock opened at GBX 792.45 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 1.07 and a debt-to-equity ratio of 67.01. The business has a 50 day moving average of GBX 860.30 and a two-hundred day moving average of GBX 847.83. Drax Group has a 52 week low of GBX 613.90 and a 52 week high of GBX 937.50. The company has a market cap of £2.66 billion, a P/E ratio of 39.23, a PEG ratio of 0.10 and a beta of 0.66.

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.