Drax Group (LON:DRX) Sets New 1-Year High – Should You Buy?

by · The Markets Daily

Drax Group plc (LON:DRX – Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as GBX 839.50 and last traded at GBX 839.50, with a volume of 436845 shares trading hands. The stock had previously closed at GBX 835.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup raised shares of Drax Group to a “buy” rating and raised their price objective for the stock from GBX 689 to GBX 850 in a report on Wednesday, December 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 950 target price on shares of Drax Group in a research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of GBX 933.33.

Check Out Our Latest Stock Analysis on Drax Group

Drax Group Stock Down 0.5%

The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32. The stock has a market cap of £2.86 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The firm has a 50 day simple moving average of GBX 760.62 and a two-hundred day simple moving average of GBX 712.55.

Drax Group Company Profile

(Get Free Report)

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.

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