Drax Group (LON:DRX) Hits New 12-Month High – Should You Buy?

Drax Group plc (LON:DRX) shares hit a new 52-week high on Tuesday . The stock traded as high as GBX 918 and last traded at GBX 917, with a volume of 100920 shares. The stock had previously closed at GBX 912.50.

Analysts Set New Price Targets

DRX has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on shares of Drax Group from GBX 750 to GBX 1,120 and gave the company a “buy” rating in a report on Wednesday, January 7th. 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. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 950 target price on shares of Drax Group in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 980.

Drax Group Stock Performance

The company has a debt-to-equity ratio of 64.11, a quick ratio of 0.32 and a current ratio of 1.26. The stock has a fifty day simple moving average of GBX 842.48 and a two-hundred day simple moving average of GBX 749.03. The stock has a market cap of £3.09 billion, a PE ratio of 8.46, a PEG ratio of 0.10 and a beta of 1.22.

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.