12. RESPONSIBLE CONSUMPTION AND PRODUCTION

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).

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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

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Source: marketbeat.com

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Amanda

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