Drax Group Plc (LON:DRX) has been assigned an average recommendation of “Hold” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is GBX 359.23 ($4.96).
Several equities research analysts have recently weighed in on DRX shares. Morgan Stanley reduced their price objective on Drax Group from GBX 330 ($4.56) to GBX 300 ($4.14) and set an “equal weight” rating for the company in a research note on Wednesday. Deutsche Bank reduced their price objective on Drax Group from GBX 310 ($4.28) to GBX 300 ($4.14) and set a “hold” rating for the company in a research note on Wednesday, December 6th. HSBC reduced their price objective on Drax Group from GBX 360 ($4.97) to GBX 290 ($4.01) and set a “hold” rating for the company in a research note on Monday, December 4th. Citigroup reissued a “neutral” rating and set a GBX 310 ($4.28) price objective on shares of Drax Group in a research note on Friday, November 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a GBX 400 ($5.53) price objective on shares of Drax Group in a research note on Tuesday.
Shares of Drax Group (DRX) traded up GBX 4.40 ($0.06) during midday trading on Friday, reaching GBX 253 ($3.50). The company’s stock had a trading volume of 706,090 shares, compared to its average volume of 777,918. The company has a market cap of $1,030.00 and a price-to-earnings ratio of -683.78. Drax Group has a 52-week low of GBX 218 ($3.01) and a 52-week high of GBX 368.70 ($5.09).
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About Drax Group
Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The Company’s segments include Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business customers and wood pellets to the domestic heat market.
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