Drax Group (LON:DRX) Given New GBX 8,140 Price Target at Citigroup

Drax Group (LON:DRX) had its target price decreased by investment analysts at Citigroup from GBX 8,160 to GBX 8,140 in a note issued to investors on Thursday,London Stock Exchange reports. The brokerage presently has a “neutral” rating on the stock.

A number of other brokerages have also weighed in on DRX. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 1,000 price target on shares of Drax Group in a research note on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,120 price objective on shares of Drax Group in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,815.

Drax Group Stock Up 0.3%

LON:DRX opened at GBX 754 on Thursday. The company has a quick ratio of 0.32, a current ratio of 1.07 and a debt-to-equity ratio of 62.90. The firm has a market capitalization of £2.54 billion, a P/E ratio of 37.33, a P/E/G ratio of 0.10 and a beta of 0.63. The stock’s fifty day simple moving average is GBX 813.10 and its 200-day simple moving average is GBX 851.59. Drax Group has a 12-month low of GBX 613.90 and a 12-month high of GBX 937.50.

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.