Citigroup Cuts Drax Group (LON:DRX) Price Target to GBX 8,160

Drax Group (LON:DRX) had its price objective reduced by investment analysts at Citigroup from GBX 9,230 to GBX 8,160 in a research note issued on Friday,Digital Look reports. The brokerage currently has a “neutral” rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,120 price target on shares of Drax Group in a research note on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 1,000 price target on shares of Drax Group in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,820.

Drax Group Stock Performance

Shares of DRX stock opened at GBX 801.88 on Friday. The company’s fifty day simple moving average is GBX 856.11 and its 200-day simple moving average is GBX 848.83. Drax Group has a 52 week low of GBX 613.90 and a 52 week high of GBX 937.50. The company has a current ratio of 1.07, a quick ratio of 0.32 and a debt-to-equity ratio of 67.01. The company has a market cap of £2.70 billion, a PE ratio of 39.70, a P/E/G ratio of 0.10 and a beta of 0.66.

About Drax Group

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.