Drax Group’s (DRX) “Buy” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Drax Group (LON:DRX) in a research note released on Wednesday morning,Digital Look reports. Jefferies Financial Group currently has a GBX 870 price objective on the stock.

Drax Group Stock Up 0.3%

Shares of LON DRX opened at GBX 855.50 on Wednesday. The company has a 50 day simple moving average of GBX 805.62 and a 200-day simple moving average of GBX 819.72. Drax Group has a 1 year low of GBX 702 and a 1 year high of GBX 937.50. The company has a debt-to-equity ratio of 68.79, a current ratio of 1.07 and a quick ratio of 0.32. The company has a market capitalization of £2.88 billion, a P/E ratio of 100.65, a P/E/G ratio of 0.10 and a beta of 0.62.

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.