Drax Group (LON:DRX) Price Target Cut to GBX 950 by Analysts at Royal Bank of Canada

Drax Group (LON:DRXGet Rating) had its target price reduced by Royal Bank of Canada from GBX 1,175 ($13.81) to GBX 950 ($11.16) in a research report released on Tuesday morning, MarketBeat.com reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued reports about the company. Citigroup reiterated a sell rating and issued a GBX 616 ($7.24) price target on shares of Drax Group in a report on Friday, August 12th. Barclays cut their price target on Drax Group from GBX 1,170 ($13.75) to GBX 820 ($9.64) and set an overweight rating for the company in a report on Monday, October 31st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of GBX 740.17 ($8.70).

Drax Group Trading Down 1.7 %

Shares of Drax Group stock opened at GBX 554.50 ($6.52) on Tuesday. The company has a debt-to-equity ratio of 117.43, a current ratio of 1.00 and a quick ratio of 0.32. Drax Group has a 1 year low of GBX 467.20 ($5.49) and a 1 year high of GBX 845.89 ($9.94). The company has a market capitalization of £2.22 billion and a P/E ratio of 1,105.88. The business has a 50 day moving average price of GBX 587.04 and a 200 day moving average price of GBX 669.40.

About Drax Group

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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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