Drax Group (LON:DRX) Receives “Overweight” Rating from Barclays

Barclays reaffirmed their overweight rating on shares of Drax Group (LON:DRX – Get Rating) in a report published on Wednesday morning, Marketbeat reports. The brokerage currently has a GBX 1,150 ($14.30) price objective on the stock.

Several other analysts have also recently issued reports on DRX. JPMorgan Chase & Co. reduced their price target on shares of Drax Group from GBX 952 ($11.84) to GBX 940 ($11.69) and set a buy rating on the stock in a research report on Tuesday, April 4th. Credit Suisse Group cut their target price on shares of Drax Group from GBX 700 ($8.71) to GBX 625 ($7.77) and set a neutral rating on the stock in a research note on Thursday, February 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Drax Group currently has an average rating of Moderate Buy and a consensus price target of GBX 733 ($9.12).

Drax Group Stock Down 0.8 %

Shares of DRX opened at GBX 614 ($7.64) on Wednesday. The stock has a market capitalization of £2.46 billion, a PE ratio of 2,947.62, a P/E/G ratio of 0.10 and a beta of 1.04. Drax Group has a 1 year low of GBX 467.20 ($5.81) and a 1 year high of GBX 799.50 ($9.94). The company has a debt-to-equity ratio of 120.37, a quick ratio of 0.32 and a current ratio of 1.07. The company’s 50-day simple moving average is GBX 613.55 and its 200-day simple moving average is GBX 628.61.

Insider Buying and Selling at Drax Group

In other Drax Group news, insider Will Gardiner sold 44,120 shares of the stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of GBX 529 ($6.58), for a total value of £233,394.80 ($290,292.04). In other Drax Group news, insider Andy Skelton sold 168,231 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of GBX 607 ($7.55), for a total value of £1,021,162.17 ($1,270,102.20). Also, insider Will Gardiner sold 44,120 shares of the firm’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of GBX 529 ($6.58), for a total transaction of £233,394.80 ($290,292.04). 0.34% of the stock is currently owned by insiders.

Drax Group Company Profile

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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.