Drax Group’s (DRX) “Sell” Rating Reiterated at Citigroup – MarketBeat

Written by Amanda

Drax Group (LON:DRXGet Rating)‘s stock had its “sell” rating reaffirmed by equities research analysts at Citigroup in a research note issued to investors on Thursday, Marketbeat reports. They presently have a GBX 591 ($7.16) price objective on the stock. Citigroup’s target price would indicate a potential downside of 11.99% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Drax Group from GBX 975 ($11.81) to GBX 990 ($11.99) and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada boosted their price target on shares of Drax Group from GBX 1,150 ($13.93) to GBX 1,175 ($14.23) and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley reissued an “overweight” rating on shares of Drax Group in a report on Wednesday, May 11th. Canaccord Genuity Group started coverage on shares of Drax Group in a report on Tuesday, June 7th. They set a “buy” rating and a GBX 135 ($1.63) price target for the company. Finally, Barclays reaffirmed an “overweight” rating and issued a GBX 1,170 ($14.17) price objective on shares of Drax Group in a report on Friday, May 27th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Drax Group has an average rating of “Moderate Buy” and a consensus target price of GBX 777.29 ($9.41).


Research shows that even though private equity is a solid bet for a healthy investment portfolio…

Click Here for Our TOP 5 Microcap Stocks.

DRX stock traded up GBX 47 ($0.57) during trading on Thursday, hitting GBX 671.50 ($8.13). 1,015,670 shares of the company’s stock traded hands, compared to its average volume of 1,471,057. Drax Group has a 52 week low of GBX 388.80 ($4.71) and a 52 week high of GBX 845.89 ($10.24). The stock has a market capitalization of £2.69 billion and a price-to-earnings ratio of 5,165.38. The company has a quick ratio of 0.37, a current ratio of 1.05 and a debt-to-equity ratio of 113.78. The stock has a fifty day moving average price of GBX 707.56 and a two-hundred day moving average price of GBX 685.88.

In other Drax Group news, insider Will Gardiner sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of GBX 809 ($9.80), for a total value of £242,700 ($293,896.83).

About Drax Group (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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should you invest $1,000 in Drax Group right now?

Before you consider Drax Group, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Drax Group wasn’t on the list.

While Drax Group currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

Source: marketbeat.com

About the author


Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai