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

Drax Group plc (LON:DRX)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as GBX 918 and last traded at GBX 917, with a volume of 100920 shares traded. The stock had previously closed at GBX 912.50.

Wall Street Analyst Weigh In

A number of analysts have commented on DRX shares. Jefferies Financial Group increased their price objective on shares of Drax Group from GBX 750 to GBX 1,120 and gave the company a “buy” rating in a report on Wednesday, January 7th. Citigroup upgraded Drax Group to a “buy” rating and lifted their price objective for the stock from GBX 689 to GBX 850 in a research report on Wednesday, December 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a GBX 950 target price on shares of Drax Group in a report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 980.

Drax Group Stock Down 0.1%

The firm has a 50-day moving average of GBX 834.63 and a two-hundred day moving average of GBX 746.30. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The company has a market capitalization of £3.10 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22.

Drax Group Company Profile

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.