Drax Group (LON:DRX) Hits New 1-Year High – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Drax Group Trading Down 0.5%

The firm has a market cap of £3.04 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.10 and a beta of 1.22. The business has a fifty day moving average of GBX 813.11 and a two-hundred day moving average of GBX 737.16. The company has a debt-to-equity ratio of 64.11, a quick ratio of 0.32 and a current ratio of 1.26.

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.