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

Drax Group plc (LON:DRX)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 733.50 ($9.80) and last traded at GBX 730.50 ($9.76), with a volume of 405379 shares trading hands. The stock had previously closed at GBX 726.50 ($9.71).

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DRX shares. Citigroup increased their price target on Drax Group from GBX 682 to GBX 689 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. started coverage on Drax Group in a report on Friday, July 4th. They issued an “overweight” rating and a GBX 1,000 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 844.50.

Drax Group Price Performance

The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11. The firm has a market cap of £2.52 billion, a P/E ratio of 6.77, a PEG ratio of 0.10 and a beta of 1.22. The firm has a 50-day simple moving average of GBX 688.01 and a 200-day simple moving average of GBX 659.93.

Drax Group (LON:DRX) last announced its earnings results on Thursday, July 31st. The company reported GBX 65.60 earnings per share (EPS) for the quarter. Drax Group had a return on equity of 31.63% and a net margin of 9.42%. As a group, analysts forecast that Drax Group plc will post 97.4732006 EPS for the current year.

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.