Drax Group’s (DRX) “Overweight” Rating Reiterated at Morgan Stanley

Drax Group (LON:DRX – Get Rating)‘s stock had its “overweight” rating reiterated by equities researchers at Morgan Stanley in a research note issued to investors on Wednesday, LSE.Co.UK reports.

Separately, Royal Bank of Canada boosted their target price on shares of Drax Group from GBX 925 ($11.40) to GBX 1,150 ($14.18) and gave the stock an “outperform” rating in a research report on Friday, April 29th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 766.57 ($9.45).

LON DRX opened at GBX 763.50 ($9.41) on Wednesday. The company’s fifty day simple moving average is GBX 764.78 and its 200-day simple moving average is GBX 651.58. Drax Group has a 52 week low of GBX 388.80 ($4.79) and a 52 week high of GBX 845.89 ($10.43). The company has a current ratio of 1.05, a quick ratio of 0.37 and a debt-to-equity ratio of 113.78. The stock has a market cap of £3.06 billion and a P/E ratio of 39.92.

In other Drax Group news, insider Will Gardiner sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of GBX 809 ($9.97), for a total transaction of £242,700 ($299,223.28).

Drax Group Company Profile (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.

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