Drax Group (LON:DRX – Get Rating)‘s stock had its “overweight” rating reissued by investment analysts at JPMorgan Chase & Co. in a report released on Tuesday, MarketBeat.com reports.
Other analysts have also issued research reports about the company. Royal Bank of Canada boosted their target price on Drax Group from GBX 925 ($11.35) to GBX 1,150 ($14.11) and gave the company an “outperform” rating in a research report on Friday, April 29th. Morgan Stanley reissued an “overweight” rating on shares of Drax Group in a research report on Wednesday, May 11th. Canaccord Genuity Group started coverage on Drax Group in a research report on Tuesday, June 7th. They issued a “buy” rating and a GBX 135 ($1.66) target price on the stock. Finally, Barclays reissued an “overweight” rating and issued a GBX 1,170 ($14.35) target price on shares of Drax Group in a research report on Friday, May 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 740.86 ($9.09).
Shares of DRX stock traded down GBX 0.50 ($0.01) during trading on Tuesday, hitting GBX 639.50 ($7.85). 801,270 shares of the stock traded hands, compared to its average volume of 1,478,620. The firm has a market capitalization of £2.56 billion and a P/E ratio of 33.13. The company has a debt-to-equity ratio of 113.78, a current ratio of 1.05 and a quick ratio of 0.37. The firm’s fifty day moving average price is GBX 728.84 and its 200-day moving average price is GBX 684.26. Drax Group has a 52-week low of GBX 388.80 ($4.77) and a 52-week high of GBX 845.89 ($10.38).
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In other news, insider Will Gardiner sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of GBX 809 ($9.93), for a total transaction of £242,700 ($297,754.88).
Drax Group Company Profile (Get Rating)
Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. The company operates through three segments: Generation, Customers, and Pellet Production. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.
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Source: marketbeat.com
