Drax Group (LON:DRX) had its price objective cut by Citigroup from GBX 320 ($4.18) to GBX 312 ($4.08) in a report published on Thursday morning. They currently have a sell rating on the stock.
DRX has been the topic of several other research reports. Royal Bank of Canada cut their price target on Drax Group from GBX 500 ($6.53) to GBX 460 ($6.01) and set a top pick rating on the stock in a research note on Tuesday, February 26th. Deutsche Bank reiterated a hold rating on shares of Drax Group in a research note on Wednesday, February 27th. HSBC upgraded Drax Group to a buy rating and cut their price objective for the company from GBX 440 ($5.75) to GBX 430 ($5.62) in a research note on Tuesday, December 4th. Finally, Morgan Stanley reaffirmed an equal weight rating on shares of Drax Group in a report on Thursday, December 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of GBX 398.67 ($5.21).
LON:DRX opened at GBX 377.20 ($4.93) on Thursday. The company has a debt-to-equity ratio of 34.34, a quick ratio of 0.44 and a current ratio of 0.82. Drax Group has a one year low of GBX 263.60 ($3.44) and a one year high of GBX 432.40 ($5.65). The stock has a market capitalization of $1.49 billion and a P/E ratio of 76.98.
In other news, insider Will Gardiner sold 104,993 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of GBX 373 ($4.87), for a total value of £391,623.89 ($511,725.98).
Drax Group Company Profile
Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. It operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. The company owns and operates Drax Power Station that produces electricity from biomass located in Selby, North Yorkshire; and develops open-cycle gas turbine projects.
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