Drax Group (LON:DRX) Reaches New 12-Month High – Here’s Why

Shares of Drax Group plc (LON:DRX) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 757.50 and last traded at GBX 755.50, with a volume of 828601 shares changing hands. The stock had previously closed at GBX 704.

Analysts Set New Price Targets

A number of research firms have recently commented on DRX. Citigroup raised their price target on Drax Group from GBX 682 to GBX 689 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 950 price target on shares of Drax Group in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 879.67.

Drax Group Price Performance

The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11. The stock has a market capitalization of £2.56 billion, a PE ratio of 6.93, a PEG ratio of 0.10 and a beta of 1.22. The business has a fifty day moving average price of GBX 699.50 and a 200-day moving average price of GBX 677.63.

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.